Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: A very quiet day for the majors. PE

US Dollar (.DXY) Index at 93.28 is stable, but has not risen above resistance at 94.10-40 to cancel the Southside risks.

EUR (Euro) at 1.1813 is still in a corrective mode, as expected, if the correction remains limited to 1.1600, then the larger uptrend may resume after a 3-4 sessions.

USD/JPY at 110.63 barely moved as it is ranges within 109.30-111.10, the wait for a breakout goes on which is expected result in a trending move.

Sterling (GBP) at 1.3047 is consolidating, after confirming a top at 1.3266, the Southside targets of 1.2950-30 are unchanged.

AUD (Aussie) at 0.7919 continues horizontal trading in the range of 0.7875-0.8050 without direction yet, but the larger uptrend may resume soon for higher targets at 0.8100-70.

Stay tuned…

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