Forex Morning Briefing

Forex Morning Briefing


Commentary: USD gained traction on positive signs of inflation. PE

.DXY at 92.267 moved up, and may to be on course to test 92.5-92.75 the near term resistance on the 3-Day candles and 3-Day lines.

EUR (Euro) at 1.1971 broke below 1.20, which could now move down to Key support near 1.19-1.195, as the .DXY moves to 92.5-92.75.

USD/JPY at 112.58 dip from resistance near 113-113.25, and may test support at 112.50 on the daily candles. This could prove Key support, which would see a break if .DXY goes back below 92, which it may very well do in here.

Sterling (GBP) at 1.3579 trades in the narrow range of 1.35-1.36, and we have have to wait for a couple of sessions to get directional clarity.

AUD (Aussie) at 0.7858 is paused here, beyond the 200-Day MA on the weekly lines, and should be ranged between 0.78-0.786 for the next 2-3 trading sessions.

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :