Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 90.063 is testing resistance at 90.1-90.2 on heightened inflation expectations and rising yields, triggered by the FOMC mins release Wednesday. However, a rise beyond 90.3-90.4 will be difficult and see a dip there or about.

EUR (Euro) at 1.2278 is testing support near 1.2275-1.2265 on the daily and weekly candles. We might see a false break of support on weekly at 1.221-1.223, as seen in the prior 2 weeks, we wait, we watch.

USD/JPY at 107.34 marked a high at 107.90 Wednesday, and is now seeing a slight dip. It will be interesting to see if the prior pattern is followed next week.

EUR/JPY at 131.80 broke below 132, but may find support at 131.5, since chances of the single currency breaking below 1.221-1.223 are low and the USD/JPY may see a Bullish week again, the pair could hold above 131.50.

Sterling, (GBP) at 1.3909 is now testing 1st support at 1.39 on the daily candles. A dip to support at 1.38 on daily and 3-Day candles could happen next week.

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :