Currencies Market Morning Brief: December-16-2015

Posted on Posted in Currency Markets

U.S. Dollar Index March-2016 Futures

Trading @ 98.25), the dollar has increased its support levels to 98 vs. yesterday morning’s support @ 97.20. It has initiated a short-term bullish reversal. It is currently consolidating with resistance above @ 98.42 and 98.89. Today’s Federal Reserve interest rate policy decision and the disposition towards a hawkish or dovish pace on future increases will significantly impact it market direction. (6:22am PT)

Euro: EUR/USD

Trading @ 1.0925, the Euro may gradually continue to weaken with resistance @ 1.096 – 1.106 and support @ 1.0899. It has broken an intraday bullish trend line and could eventually retest 1.079. (6:31am PT)

Japanese Yen: USD/JPY

Trading @ 121.85, dollar strength vs Yen weakness is in play and we have a clear reversal in the downtrend. Support is @ 121.57 and resistance is @ 122.09. (6:36am PT)

Leave a Reply

Your email address will not be published. Required fields are marked *