Todays review on USD Index
Weve had a week of complete flatness on the USD Index. Major events during the week caused the dollar to spike mostly to the

upside. Todays NFP, came out lower than expected, previous months number had been revised lower.I thought the dollar might

take a knock if this is the case and forecasted on it since we are at Resistance on Dxy, and most DOLLAR pairs did not have

buying setups. When figures came out this was the case, dollar took a knock on some pairs and then gained strength again.
The strength of the US dollar is explained by the safe havens flow, with the dollar being amoungst the safe havens.

H4 chart

Price broke resistance of the weekly range and fib61.8 , rallied up then found resistance at this weeks WR1. With a overbought stoch. Price is currently bullish and the Market is bullish. Personally I think USD Index has to retrace for the Dollar to attract more bulls.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.