Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing

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

Commentary: Nothing new. PE

The US Dollar’s (.DXY) Index at 89.96 downward could get confirmed if it dips from here. Some resistance could be provided by the 13-Wks MA on the weekly line, but a breach there means a test of higher resistance near 91 and then a dip.

EUR (Euro) at 1.2321 may drop to test support at 1.225 this week. And, that would imply a break of 1s  support at 1.23, which could happen with .DXY breaching the 13-Wks MA.

USD/JPY at 106.34 is moving in a downward channel, and has dipped after testing resistance at 106.93. It could dip lower this week to 106.0-105.5.

EUR/JPY at 131.02 after testing resistance at 131.5-132.0 last week, we may see a dip to support at 130 this week.

Sterling (GBP) at 1.4045 broke support last week and should now find support 1.395-1.390 this week, it could bounce there.

Have a terrific week.

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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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