Forex Morning Briefing

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

There was a false spike to 1.1690 on EUR (Euro) at 1.1614 after the US NFPs release Friday, but the single currency fell later. This increases its Bearishness, suggesting more dip to 1.1550-30 this week.

Note: The Dollar (.DXY) Index at 94.895 has seen a high of 95.10 so far, in line with my target at 95.50.

USD/JPY at 114.36 rose past resistance at 114.50 to 114.73 Monday, but has come off from there.

As I said Friday, “A clear break of resistance, if seen, could drive the market much higher.” A fresh rise past 114.50-75 can test 114.90-115.00, not ceratin about a rise past the marks.

EUR/JPY at 132.82 appears ranged here, as both the EUR and JPY seem to be gaining/losing to the same Vs USD.

Sterling (GBP) at 1.3075 trades exactly where it was Friday. So, be careful in here as a further decline from here could signal 1.2750 medium/ long term. Watch it.

AUD (Aussie) at 0.7651 has been stopped from rising past 0.7715-30 to 0.7530, while below the important resistance at 0.7750. Interim Support seen at 0.7600

USD/CNY at 6.6365 moved up again after dipping to 6.5829 last week

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.