Forex Morning Briefing

Forex Morning Briefing


Commentary: USD still struggling. PE

US Dollar (.DXY) Index at 90.377) is currently near support at 90.3-90.4 on the daily line. It should respect this support, or go down to test to 90 on the 3 day candles. Then we should should see a bounce to 91.5 near term.

EUR (Euro) at 1.2257 is consolidating currently near 1.225. Ranging between 1.21 and 1.2325 might continue for the single currency for a few sessions. Prefer for move to 1.21 near term followed by a bounce to 1.225-1.23.

USD/JPY at 110.63 should hold above support at 110.5, and make another attempt at 112 near term.

EUR/JPY at 135.65 is ranged within 135.5 and 136.2 now, with some JPY strength in the past couple of days, it is struggling to move beyond 136. The anticipated move to resistance at 137 may extend into next week.

Sterling (GBP) at 1.3982 is testing resistance at 1.4 on the daily lines. There is some room for it to move up to resistance near 1.41 in this week before dipping once more.

AUD, (Aussie) at 0.7994 is ranging near 0.7990-0.8030 as it struggles to move past resistance at 0.80 on the weekly lines.

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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