Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP

Commentary: Nothing new. PE

US Dollar (.DXY) Index at 93.945 is testing resistance at 94.00 on the 3 day candles and daily lines. This is Key resistance, if it holds could signal a downtrend to 93 by end of this month. But a clear breach there could see a test of 94.40-94.50 on the daily candles, from where a dip might follow.

EUR (Euro) at 1.1768 is trading just above 1st support at 1.173-1.175 on the 3 day candles, which is likely to hold and drive it to 1.19 by the end of the month. A break of 1st support could lead to testing of support around 1.17, which may prove to be a strong support mark.

USD/JPY at 113.48 seems to be seeing a dip from resistance level at 113.5-113.6 on the daily line. A further test at 114 could be possible with a dip back to 112-112.5 by January.

Sterling (GBP) at 1.3340 broke support at 1.335, Cable is now expected to move to 1.32-1.3225, which is seen as a strong support level on daily, 3 day and weekly’s.

Stay tuned…

.DXY, AUD, Bullish, consolidation, direction, EUR, forex, GBP, jpy, pairs, range

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.