USD Index daily outlook

Looking at the history of NFP this year weve had reletively good NFPs twice in a row.

A weak number today might cause traders to think the growth we have had for the year and the late stages of last yar is

being given back, and maybe therefore the FED might not hike as promised. Some might think weve reached maximum employment,

and the FED will continue.

With the forecast being a lower number than previous the last thing I want to see as a Dollar Bull is last months number

being revised lower, and todays number coming out lower than expected.
The Market want to see unemployment decline, or stay steady with average hourly earnings improving.

With the market being known for pricing in future events there has been no pricing in of what traders think the result will

be, even though most leading indicators suggest a stronger number, the Market has not yet priced in anything. As shown below

PRICE has been flat,but spiked alot on lower timeframes.

Daily chart

MPP has been holding as resistance for the better part of the week, however Yesterday just before Asian close price broke MPP resistance and its now serving as support. Although this break is not significant, its important to see that MPP, is now support without ruling out the fact that MARKET is currently on a higher low. Stoch is overbought, looking to turn downsouth suggesting a possible sell off.

H4 chart

Market is bullish. Price is rather flat. Stoch is just above 50% heading north. Price is currently on my resistance zone marked in pink and typically Id expect a drop, todays NFP though so no expectations.

H1 chart

Price opened the day at DM3, dropped down to DM2, then up again to near DM3. for bears the daily target is DM1, for bulls its DM4

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