There is a bit of talk about the US$ index closing higher for the week but the EUR$ index closed up for the week too! Clearly, some discretion is needed for any trading bias based on US$ Bull sentiment. The 95.50 level remains the one to watch for the next make or break move with the US$.
USDX: watch the 95.50 level for any new make or break in coming sessions. This is a previous long-term S/R level
EURX weekly: closed higher for the week and remains in a bullish breakout from the 2 1/2 year trading channel. Watch for any test of the weekly 61.8% fib near 105.5:
FX Index Alignment: the FX Indices remains aligned for LONG EUR$ and SHORT US$ just at the moment but this could shift rather quickly if the US$ keeps strengthening.
Trading Calendar: There isn’t any high impact EUR data but watch the USD data: Wednesday’s & Thursday’s Fed Chair Yellen speech, Thursday’s PPI and Friday’s Retail Sales might be the key ones to watch but keep an eye on the second-tier Fed speeches too as they can always throw in a curve ball!: