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…

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