Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: USD now moving in tight range. PE

The US Dollar (.DXY) Index at 90.255 nowmoving in a very narrow range (90.2-90.3) after tapping a high at 90.57 Thursday. A test of resistance just below 91 could happen next week.

EUR (Euro) at 1.2259 is trading below support at 1.2275 and saw a low of 1.2212 Thursday. The support at 1.22 on the 3 day lines, and at 1.215-1.22 on the daily candles, could be the next targets. These should provide Okay support.

USD/JPY at 109 tested support at 108.5 Friday, and is now trading above mark. Could now see it moving to 110.5-111 next week. There is resistance at 110.5-111 on the weekly lines.

EUR/JPY at 133.59 broke support at 134 Thursday and marked lows at 132.94. Both EUR and JPY could weaken Vs USD in the coming week, it needs to be seen how EUR/JPY responds.

Sterling (GBP) at 1.3940 saw a high of 1.4067 Thursday. Expect some consolidation around 1.39 for GBP before the move to support at 1.37 resumes.

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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