Forex Morning Briefing Major Pairs

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

Commentary: Jackson Hole Summit drives Euro North. PE

EUR (Euro) at 1.1925 after Jackson Hole speeches Friday reasserts the overall uptrend, establishing 1.18-17 as good supports, set new targets to 1.20-21.

The rise in ER/JPY at 130.17 due to the rise in the EUR/SD is encouraging for “Risk-On” trades, but we need a rise past the July high of 131.40 to bring in more confidence.

Watch USD/JPY at 109.16 remains ranged between 108.60-109.80, the decline in the US-Japan Yield Spreads could lead to eventual Japanese Yen’s strength. Watch this.

The US Dollar (.DPY) Index at 92.52) is trading just below its 200-wk MA at 92.59, and can test 91.80 soon.

Sterling (GBP) at 1.2888 rose sharply Friday, piggybacking on the single currency, but fading from resistance at 1.2915. The outlook looks weak while trading below 1.2915.

AUD (Aussie) at 0.7940 bounced from just above 0.7850 over the last 3 trading days, keeping its overall uptrend intact, look for a test of 0.80+ while trading above 0.7900.

Have a terrific week.

.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.