Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 90.712 has breached resistance at 90.5, and may now attempt a test of 2 stronger resistances at 91, and at 91.5, which should produce a fall for .DXY soon.

EUR (Euro) at 1.219 dipped below 1.22 and is now headed to major support at 1.215, I now believe that this support could lead to a bounce to 1.25-1.26 next week.

USD/JPY at 106.74 is close to support at 106.5 on 3-Day and weekly lines. A break of these marks will confirm long term Bearishness in the pair.

EUR/JPY at 130.14 broke support near 131 on the daily candles. If USD/JPY respects support at 106.5 while the EUR moves to 1.25-1.26 next week, we could see a rise in the pair beyond 131. But, if either the USD/JPY or the EUR breaks supports near 106.5 or 1.215 respectively, see EUR/JPY move lower to 128-129 next week.

Sterling (GBP) at 1.375 as I expected tested support at 1.38 on daily and 3 day candles, but instead of bouncing has fallen farther. In case of more Bearishness, it could target 1.36, which is Key support on daily, 3-Day and weekly lines, which should produce a bounce for GBP.

Stay tuned…

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