Forex Morning Briefing Major Pairs

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

Commentary: Overall weakness in USD and GBP continues. USD/JPY suggests risk here.PE

EUR/JPY at 128.85) is largely stable as both the single currency at 1.1805, and the JPY at 109.17 have gained Vs USD.

The US Dollar (.DXY) Index at 93.28 continues to consolidate sideways, but may resume the overall downtrend while resistance at 94.00-25 holds.

The markets will be looking forward to Jackson Hole Friday.

USD/JPY at 109.17 saw resistance at 109.80 Wednesday, and likely to remain ranged between 108.60-109.80 for a few more days. In the longer term, the chances of a break below 108.60 are up. Keep an eye on this, as it suggests danger.

Sterling (GBP) at 1.2800 has not broken below 1.2787, but still Bearish while below 1.2845-50. This last is a cautionary note Vs Bullishness on the EUR/GBP in here.

AUD (Aussie) at 0.7903 managed to avoid a fall, buoyed by the rise in the single currency. It appears ranged between 0.7830-7950 in here, that is within the overall uptrend.

The RMB Yuan (USD/CNY = 6.6588) has strengthened since Wednesday. We target 6.6150 on the Southside.

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.