Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

US Dollar (.DXY) Index at 94.64, the FOMC stressed that the US economy is growing strongly and so, a rate hike in September is almost certain. The Fed’s policy did not strengthen .DXY, it looks like it could strengthen towards 95.0-95.5 in her, as long as it holds above 94.

EUR (Euro) at 1.1654 wants to test of support at 1.1625 now. The possibility of a move to 1.145 looks possible in here.
USD/JPY at 111.65 is trading at support, it could move back to 112.5. A clear break of 111.5 sees a test to 110.5 next week.

EUR/JPY at 130.12 is trading near 1st support. If the EUR weakens to 1.16, then to 1.145  and USD/JPY is capped at 112.5-112.0, Then could see the pair break below 130-129 and head to 127 soon.

Sterling (GBP) 1.3106 trades quietly as markets await the BoE policy Thursday, where a rate hike is expected. A rate hike could strengthen GBP. But, the broader trend looks Bearish for a break below 1.3050. We wait, We watch.

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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