Forex Morning Briefing

Forex Morning Briefing
Forex Morning Briefing


Commentary: Nothing really new. PE

The US Dollar (.DXY) Index at 94.63, the support near 94 held well for .DXY Monday. It is now trading near the 21-Days MA near 94.6. A rise to 95.00-95.25 in here, 95.5 is an important resistance mark. A clear break above that mark will correspond with a break below 1.155 for EUR.

EUR (Euro) at 1.1685, It looks like the single currency could break out of its range soon. The ECB Meeting is Thursday could help in deciding direction for EUR. In the past, Mr. Draghi has maintained a Dovish tone while talking about the QE’s end or about the rate hike in Y 2019, if that continues on 26 July, the EURs break of range could be South to 1.160-1.155 +.

USD/JPY at 111.25 support held for the pair. This indicates the run may end near 114-115, and we could see the rise to 112 in here.

Note: On the weekly candles it might have to face resistance at 112.5. A clear break of 112.5 augurs a rise to 114 ahead.

EUR/JPY at 130.01 could stay ranged within 131.5-129.5. There is support near 129.5, which should hold unless the EUR breaks below 1.155.

Sterling (GBP) at 1.3097 the broader trend is Bearish. If it closes below 1.3114 this week, then a see a move to 1.29 in the next week.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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