Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD

Commentary: USD consolidating. PE

The US Dollar (.DXY) Index at 90.176 is consolidating around 90.20 and could move to resistance at 90.5-90.75 on the daily.

EUR (Euro) at 1.2281) seeing strengthening since Friday when it marked a low at 1.2206. It might again attempt a test of support at 1.220-1.225 this week.

USD/JPY at 108.70 saw a low of 108.05 Friday, as it broke 1st support near 108.5 and testing support, 108.0-108.5 are strong support, and USD/JPY could bounce from here to resistance near 110.5-111.0 on the weekly lines in the next 1-2 weeks.

EUR/JPY at 133.60 is above support near 133 on the daily. See there is major support by horizontal trend lines on the daily and 3-Day candles near 131.5-132 that are holding. May see EUR/JPY move to 134 in the coming sessions, as JPY could weaken Vs USD, as compared to EUR in this week.

Sterling (GBP) at 1.3846 is trending South after seeing 2 days of consolidation near 1.39. It marked a low of 1.3765 Friday and could test support at 1.37 this week.

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.