Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: USD consolidating. PE

The US Dollar (.DXY) Index at 90.176 is consolidating around 90.20 and could move to resistance near 90.5-90.75 on the daily.

EUR (Euro) at 1.2281 is strengthening since it saw a low of 1.2206. It may attempt a test of support near 1.220-1.225 on the daily this week.

USD/JPY at 108.70 marked a low of 108.05 Friday testing support on the 3-Day candle at 108, and now USD/JPY could see a bounce to resistance at 110.5-111.0 on the weekly lines within the next 2 weeks.

EUR/JPY at 133.60 is up and seeing good support on the daily and 3-Day candle near 131.5-132, which has held. EUR/JPY could move up to 134 in the coming sessions since the JPY could weaken Vs USD as compared to EUR this week.

Sterling (GBP) at 1.3846 is trending downwards after seeing 2 days of consolidation near 1.39. It reached a low of 1.3765 Friday and could test support again on daily near 1.37 in here.

Have a terrific week.

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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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