Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

US Dollar (.DXY) Index at 90.105 bounced from 89.5-89.75. The support was actually broken Thursday, leading to a further move towards important support at 89.2. But, the support held and now, 1st resistance is seen at 90.25, which may bring us a dip.

EUR (Euro) at 1.2306 is testing support 1.23, which has held recently. But, see 1.225 as support on daily candles, then a bounce can be expected.

USD/JPY at 105.98 continues South to Key support 105 on the daily. A break there will confirm medium term Bearishness for the pair.

EUR/JPY at 130.42 is falling to 130-129.75 on 3-Day candle as expected. If EUR/JPY falls below 105, we see the pair breaking 130 then lower.

Sterling (GBP) at 1.3926 as expected faded from resistance 1.4, and is now moving to support at 1.39.

Have a terrific weekend

The following two tabs change content below.

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.

You must be logged in to post comments :