Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD

Commentary: Some very strong bets are being tested given the market has been focused on stronger EUR, GBP and JPY story-lines for some time. This current USD move will either prove to be a brilliant opportunity to rejoin the battle aka short USD trade or a super moment for USD Bullish contrarians. PE

EUR/USD

Current level – 1.2305

The slide through 1.2380 confirms the bearish bias, for a break through 1.2280 dynamic support to 1.2240.

Key resistance is seen at 1.2380.

Resistance Support
intraday intraweek intraday intraweek
1.2380 1.2560 1.2280 1.2160
1.2460 1.2560 1.2240 1.2090

USD/JPY

Current level – 106.67

The bias is positive after the break though 105.90, for a rise to 107.90.

Key support is seen at 105.90.

Resistance Support
intraday intraweek intraday intraweek
107.00 108.30 105.90 105.20
107.90 110.40 105.20 104.60

GBP/USD

Current level – 1.4042

With the recent break through 1.4075 support the outlook remains Bearish, for a move to 1.3910. Initial intra-day resistance lies at 1.4130.

Resistance Support
intraday intraweek intraday intraweek
1.4130 1.4280 1.3980 1.3710
1.4240 1.4340 1.3910 1.3620

Have a terrific Easter weekend.

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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.

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