Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
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