Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: USD seeing some weakness in here. PE

The US Dollar (.DXY) Index at 89.74 is trading at 89.7-89.8, seen last Thursday and Friday. It will move to support at 89.25 this week. US Retail Sales data could have significance impact on .DXY this week.

EUR (Euro) at 1.2342 is holding above 1st support as expected. It should now try to rise to 1.24. But in case it dips in here, see the support at 1.2300-1.2275. If the single currency rises beyond 1.24-1.2425, it could target 1.26, a run past 1.26-1.28 implies medium term Bullishness for EUR.

USD/JPY at 107.20 marked a high at 107.8 Friday, as I expected, it has now come off to 107.20. The 21-Day MA on 3 day line is near 107.36 and could push USD/JPY down further, and could see the pair breaking below 107 this week.

EUR/JPY at 132.31 sees resistance at 132.5-133.0, there it could range within 132.5-132.0 this week, as the USD/JPY could turn Bearish, while the EUR stays below 1.24.

Sterling (GBP) at 1.4262 saw a high near 1.43 Friday and might try a test to 1.43-1.435 this week.  Medium term, a clear break of 1.430-1.435 may imply Bullishness to 1.46, watch it.

Have a terrific week.

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