Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 89.722 tested resistance on the daily candles at 90.1-90.2 last week and if the ranged action of the last 3 wks continues, it is likely to dip this week to 1st support 88.25 on the daily candles .

EUR (Euro) at 1.2318 has been ranged for the last 3 wks in the broad 1.22-1.255 zone, and if the ranging continues this week, we could see another test of 1.25 late this week.

USD/JPY at 106.51 has support 106.25-106.5 on the 3-Day lines and the weekly candles. If it breaks this support, it could test to 105.5 on weekly line, which is Key support.

EUR/JPY at 131.17 may see support on the daily candles at 131 near term. The Southside target of 105.5 for USD/JPY, and the Northside target of 1.25 for EUR this week gives us the probable target for EUR/JPY at 131.87.

Sterling (GBP) at 1.4008 could test resistance at 1.405-1.408 in the next 2 sessions and dip from there.

Have a terrific week.

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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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