Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 97.27 Wednesday’s low to recover a bit but the corrective bounce can reach 98.30 at best if it manages to break and hold above the interim resistance at 97.45. My Southside target of 96.50-00 is unchanged.

EUR (Euro) at 1.1196 seeing a normal correction, while the larger uptrend remains intact. This pullback can take it to 1.1100-1.1075 where new buying can be expected.

USD/JPY at 111.56 stable and not been able to break above 112 in the last 3-sessions, while trading  above major support at 110, there is room for an move towards 114.0-114.5 medium term. See sideways consolidation for a few sessions before any directional move is seen.

Sterling (GBP) at 1.28890 trading above support near 1.2865, while that holds, a rise towards 1.32 cannot be ruled out. The Southside could be limited to 1.2750 in the next few sessions, while a move towards 1.3250 is possible.

AUD (Aussie) at 0.7432 trading lower and could possibly come off to 0.74 or a bit lower near term.

Have a terrific Memorial Day weekend to all of our American readers.

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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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