Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary:Nothing new. PE

US Dollar (.DXY) Index at 99.74 is hanging around its pivot at 99.80 of its trading range of 98.80-100.75. If .DXY breaches its pivot then see 100.45-80 within 3 to 5 trading sessions.

Euro at 1.0716 was rejected from resistance near 1.0770 Thursday. See a pause in Euro today trading within the 1.0770-1.0680 region. Looking at the German-US 10-yr yield spread could be that further upside for EUR could be limited in here.

Sterling at 1.2799 in a pause mode after the recent sharp rise from levels near 1.25. May see range trade within 1.2750-1.29 for the next 2-sessions. 1.29 may act as some resistance in here.

Dollar/Yen at 109.215 could test 109.50-110.08 before dipping back to 109-108.5  again. Overall some sideways consolidation in the cards for the coming sessions.

Aussie at 0.7526 could move up towards 0.760-0.761 in the next 2-3 sessions before another rejection, and coming off towards 0.7450. The 0.76-0.7450 may hold for a few more sessions.

Have a terrific weekend.

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 :