Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: USD bouncing off lows in here. PE

The US Dollar (.DXY) Index at 89.78 is bouncing from support to important resistance just above 90 on the daily and weekly candles. As US bond yields touch fresh highs, we could see .DXY tap at 90.00-90.25 Friday.

EUR (Euro) at 1.2338 tested at 1.235 and now trading near 1.234. There is support on daily and weekly candles in the 1.2275-1.2315 area, which should be tested this week.

USD/JPY at 107.76 bounced and is targeting resistance near 108 on the daily candles. There could be major resistance at 109.00-109.25 on the weekly lines, which could keep the Northside restricted until next week.

EUR/JPY at 132.96 bounced from major support near 132 on the 3-Day candles, now expect EUR/JPY to hang near 132.8-133.0 this week.

Sterling (GBP) at 1.3991 pausing in its dip to 1st support at 1.39.A test to support 1.38 on daily and 3-Day candles is postponed until sometime next week.

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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