Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: It was said early last week that most of the major pairs have been in a normal correction and further break of major supports are required before the downtrend can be confirmed.PE

EUR (Euro) at 1.1415 has probably ended as it bounced back near to the year high of 1.1445, but it may rise further to its long term resistance at 1.15-1.16.

The US Dollar (.DXY) Index at 95.92) slipped below 96.00. US Dollar may test the major support of 95.50-40.

USD/JPY at 113.69 rallying towards our targets of 114.30-115.00 as expected with 1st support coming at 113.00-112.75.

Sterling (GBP) at 1.2970 requires a break above the major resistance at 1.3030-50 to negate Southside risks and confirm further rise to 1.3200.

AUD (Aussie) at 0.7585 trades weak despite the global USD weakness and may test the lower support at 0.7530-15 sooner rather than later.

Have a terrific week.

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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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