Forex Morning Briefing Major Pairs

Forex Morning Briefing, Major Pairs

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

Commentary: FOMC has kept rates steady, CBOE market is pricing in a 66% chance of hike on 13 December and 3 more hikes in Y 2018, and $4.5-T balance Sheet normalization is to start from October, as bonds maturing in October will not be replaced/or bought back. PE

As a result…

EUR (Euro) pushed lower to 1.1883, USD/JPY higher at 112.43 and the US Dollar (.DXY) Index up at 92.56.

There is immediate support at 1.1850 on the single currency, the Norhtside might be limited and Southside might be open to 1.1750.

.DXY too could rise to 94-95-96 if breaks above 93.00.

USD/JPY can to rise to 113.00-50.

Sterling (GBP) at 1.3491 has come down again after having risen past 1.36 Wednesday. So, the long-term resistance at 1.38 looks real now.

AUD (Aussie) at 0.7998) may have exhausted its move up after the rally to 0.8100 Wednesday. A break below 0.7950 leads to more profit-taking.

USD/CNY is trading higher at 6.5889.

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.