Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: USD support at 88.5 held, seeing some strength in here. PE

The US Dollar (.DXY) Index at 89.653 is seeing some strengthening towards 90. There might be some resistance provided by earlier support near 90 on 3-Day.

EUR (Euro) at 1.2368 dipped in line with our expectation of a near-term correction to 1.2350. It could test 1.23 in here.

USD/JPY at 108.66 has come down a bit, as the 21-Day MA resistance on the daily near 110.50 held. It may be headed to 108, then 107.

EUR/JPY at 134.46 fell as it weakened Vs USD, while the JPY saw strengthening. There is important support on the daily, 3-Day and weekly candles at 134 which should hold near term.

Sterling (GBP) at 1.3959 is close to the 21-Day MA line on daily line after dipping from resistance near 1.425-1.43 on the 3 day candles and the daily line last week. While it trades above the 21-Day MA line, it could move to test at 1.43.

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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