Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: The 1st 3 days of this week may be quiet, waiting for the FOMC data Wednesday. PE

The US Dollar (.DXY) Index at 91.85 trades lower Vs the strong rise in Sterling at 1.3596, and stability in EUR (Euro) at 1.1949 and weakness in JPY at 111.21.

There are but 2 possibilities in here for the single currency, either more rise past 1.2035-50, or range trade with 1.2000 and 1.1850.

I am not sure where Sterling can/will go from here, but watch resistances on the UK Gilt yields for clues.

USD/JPY at 111.21 rose past projected range high at 110.70 Friday to a high of 111.35, if it now rises past 111.50, it could then rise to 113.50, or it could dip back to 110.50 or lower. Watch it.

Note: Weakness in JPY pushed EUR/JPY at 132.85 higher, past the resistance at 132 that held last week. There is Key resistance near here. Let us see how it behaves Monday.

AUD (Aussie) at 0.8027 moved up to my target at 0.8025. Looking for strength to 0.8060 this week.

USD/CNY at 6.5469 looks poised to rise towards 6.5750 then to 6.60 in the weeks ahead.

Stay tuned…


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