Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 90.16 is staying above resistance line at 90.10, and is looking likely to move to higher to 90.5-91.0. The test at 90.5-91.0 could happen next week.

EUR (Euro) at 1.2279 marked a low at 1.2257 Wednesday and is trading near 1.228. There is strong support seen at 1.225 on the candles and lines. The single currency could bounce from 1.2250-1.2225 to 1.24. A break clear break of 1.2250-1.2225 would lead to medium term Bearishness.

USD/JPY at 106.97, as I said Wednesday the pair moved to test resistance at 106.9. This could be an indicator that the pair will be Bullish medium term We wait, we watch.

EUR/JPY at 131.35 did not dip, but is testing at 131.5, and should see a dip from there. But, if JPY continues to weaken Vs .DXY beyond 107, could see this resistance being broken too.

Sterling (GBP) at 1.4077 is moving up  from 1.4010. It could either move up further towards resistance at 1.42, or drop to support near 1.395. We wait, we watch.

Stay tuned…

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.

Latest posts by Paul Ebeling (see all)

You must be logged in to post comments :