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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