Forex Technical Briefing For All Major Currencies (Daily)
$.DXY
Overall the major currencies are strong Thursday.
Euro, Aussie and Japanese Yen are strong Vs the US Dollar.
EUR (1.1485) has surprised by moving above 1.14, it continues it may soon target 1.16-1.18 on the Northside in the medium term. Need to see if it is able to sustain above 1.15 or comes back to 1.13-1.12 from there.
USD/JPY (118.98) down sharply suggesting that the long sideways consolidation is coming to an end. If it continues to fall below 118 it may initiate a fresh movement.
Aussie (AUD) (0.7344) recovered the losses seen Tuesday suggesting that it is possibly gearing up for a long term recovery. But it needs to break immediate resistance of 0.74 on the Northside to move higher towards 0.75-0.76.
Cable (1.5476) up sharply but 1.55 seems likely to hold on the Northside in here. A rise above 1.55 may drive it Northto 1.57 but we may likely see a short dip from 1.55.
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader
Stay tuned…
HeffX-LTN
Paul Ebeling
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