Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

US Dollar (.DXY) Index at 95.17 moved up and now looks like 96 next in here, aa close above 95 Friday will be Very Bullish for .DXY next week

EUR (Euro) at 1.1587 broke below support at 1.1600-1.1625, it is headed South to 1.1508. There is support 1.145 on 3-day line, a clear break there has EUR Very Bearish

USD/JPY at 111.63 tested support at 111.32 Thursday and has moved up. But, while below 112.15, there is a chance of a break below 111.30 to test support at 110.75. The 112.5-115.0 zone is a major long term resistance for the pair, which should cap the Northside in here.

EUR/JPY at 129.38 broke below support on daily candles near 130 and could move lower towards 128 next week. If USD/JPY stays below 112, and EUR moves to 1.150-1.145, the pair could test major support at 127 next week. A clear break below 127 would be Very Bearish.

Sterling (GBP) at 1.3016: The BoE raised rates by 25 bpts, the Bearish trend continues despite of the rate hike. GBP broke below support at 1.3050. A move to 1.29 next week.

Have a terrific weekend

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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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