Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 89.73 has some support on the daily lines, the earlier resistance trend line on the daily line could provide some support at 89.0-89.5. If that support holds ranging between 88.5-90.0 for this week is void.

EUR (Euro) at 1.2338 marked a high at 1.2355 Monday, but closed at 1.2317 and is currently trading around 1.233-1.234. The 21-D MA line on the daily line could provide resistance at 1.236.

USD/JPY at 106.93 marked a low of 106.38 Monday, but may have found support near 106.25-106.5 on the 3 day line and the weekly candles. It now can test resistance at 107.25 again before dipping.

EUR/JPY at 131.95 bounced from support at 131, the EUR/JPY’s Northside could be restricted to 132.5-132.6.

Sterling (EUR) at 1.3971 tested resistance Monday at 1.407 and is dipping to support 1.39, then a bounce is expected.

Stay tuned…

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