WHAT WILL HAPPEN TO THE USD THIS WEEK?
Looking to the week ahead and what to expect of the the USD.
We have Non-Farm Payroll coming up this week which is forecast to be higher than last months, backed by President Trumps tweet suggesting the jobs number will be good.
Seasonally the USD is strong and looks likely to continue however we are sitting at a key resistance level with 127.2 Fibonacci extension confluence. This could show the market
is currently over extended and we could see a retracement at this level. If the market breaks and closes above the highs of $97.00 we can continue to look for long opportunities.
We have Non-Farm Payroll coming up this week which is forecast to be higher than last months, backed by President Trumps tweet suggesting the jobs number will be good.
Seasonally the USD is strong and looks likely to continue however we are sitting at a key resistance level with 127.2 Fibonacci extension confluence. This could show the market
is currently over extended and we could see a retracement at this level. If the market breaks and closes above the highs of $97.00 we can continue to look for long opportunities.
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