Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing new. PE

The US Dollar (.DXY) Index at 90.186 not been able to rise above Thursday’s high at 90.59, 1st resistance near 90.50-90.75 as seen on daily line. While trading below this resistance .DXY could dip to 89.5.

EUR (Euro) at 1.2274 tested support at 1.2225 on Thursday and Friday by dropping to lows near 1.2218-1.2215 and bouncing. The 21-D MA line is near 1.2319 and could provide some interim resistance Monday. A clear break below 1.215 implies medium term Bearishness and a clear break above 1.25-1.26 implies medium term Bullishness.

USD/JPY at 106.94 saw highs near 107.46 last week and is trading below 107. There could be some support near 106.8. If it stays above this mark and then moves beyond its prior high at 107.9 it may imply medium term Bullishness for the pair.

EUR/JPY at 131.25 is trading around resistance at 131.0-131.5. If it respects such resistances, it could come down to support at 130, but, if the EUR moves up to1.232 this week and USD/JPY stays above 106.80, the pair might rise past the 1st resistance.

Sterling (GBP) at 1.4095 as expected tapped support near 1.396, and now looks to be bouncing from there. The 1st Northside target is 1.42.

Have a terrific week.

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 :