Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD

Commentary: USD continues to weaken. PE

The US Dollar (.DXY) Index at 88.405) is testing support at 88.5 on daily lines. There is a chance  of a bounce from here to 89-90.

Note: The recent .DXY Southside move broken Key long term support on weekly line at 89, which indicates prolonged Bearishness

EUR (Euro) at 1.2533 saw a strong rise Thursday is continuing Friday, it is now very near 1.2537, which could be the next resistance, if this also breaks, then look at 1.2600 and 1.2670.

USD/JPY at 106.11 is testing support at 106.00 on the daily candles and if the single currency goes beyond 1.2537, USD/JPY could test support at 105.50 as seen on the weekly candles.

EUR/JPY at 132.94 is bouncing from major support at 132 on the 3-Day candles. This is major support, and we could see a break if the JPY goes below 105.5.

Sterling (GBP) at 1.4121 has resistance on 3-Day candles and 3-Day lines near 1.42-1.43, which should lead to a dip next week. If it breaches that mark, then sees 1.44 on the weekly candles next.

Have a terrific holiday 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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