Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: USD seeing continuing weakness in here. PE

The US Dollar (.DXY) Index at 89.42 dipped from 89.7-89.8 to 89.4 and could go to support at 89.25 yet this week. Monday US Retail Sales data came in higher than expectation but did not lend any strength to USD.

EUR (Euro) at 1.2380 is rising to 1.2400-1.2420. If it breaks that resistance, it may target 1.25-1.26 or  1.28, then maybe a correction. A clear run past 1.26-1.28 implies medium term Bullishness for the single currency.

USD/JPY at 107.04 saw a high near 107.8 Friday, and has come off, and is trading near 107 just below its support trendline. If this move continues, it could target support at 106.5 soon.

EUR/JPY at 132.51 is seeing resistance at 132.5-133.0 on the 3-Day and weekly lines. The range this week could be 132.5-132.0 as USD/JPY may hold its break below 107, and EUR holds below 1.24.

Sterling (GBP) at 1.4337 is testing 1.43-1.435 . This is an important mark, a clear break may imply Bullishness to 1.45-46 medium term.

Stay tuned…

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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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