Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 89.966 looks to be seeing getting some support near 90 by the 13 days and 21-Days MA lines on daily lines, and also by the 5 Wks MA line on the weekly line. These supports may not hold for long as .DXY may move down to support near 89.5. 89.0-89.5 range seen as Key long term support on the weekly lines, which if broken, might lead to sustained Bearishness for USD.

EUR (Euro) at 1.2350 broken above 1st resistance at 1.232-1.233. There might be some resistance provided by earlier support line on 3-Day candles near 1.235, but this resistance should be breached in an attempt at 1.245-1.250 this week.

USD/JPY at 106.41 has risen from 105.4-105.5 seen Monday and may attempt a test of resistance at 106.5-106.75 before dipping again. Medium term looks Bearish for USD/JPY with the next target on being support at 104.0-104.5.

EUR/JPY at 131.43 tested support at 129.36 earlier than expected and has bounced. There is resistance at 131.5 on the daily candles and near 132 on the 3-Day candles which should keep the pair’s move up restricted.

Sterling (GBP) at 1.3845 bounced from support at 1.3775, and might move back to 1st resistance at  1.395 in the coming sessions.

Stay tuned…

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