The US$ index continues to hold above support following a decent, albeit mixed, NFP report; the ‘Jobs’ component was strong but the ‘Wages’ was a miss. I have revised the Flag trend lines for both FX indices given the amount of sideways price action. There are rate updates to impact both indices in the coming week so watch for any new momentum-based breakout on these.
USDX weekly: revised Flag trend lines here so watch for any new breakout with FOMC and even the ECB rate update:
USDX weekly: revised Flag trend lines here so watch for any new breakout with FOMC and the ECB rate update:
Calendar: FOMC and the ECB rate update are the main items to watch in the coming week: