Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


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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