Very Simple 4h analysis as its less noisy.
yet again we see the dollar index in a range. Waiting for a break to confirm the longer term direction of the pair.
Bare in my NFP is tomorrow, I expect a breakout one way or the other. I will be watching closely to see what type of break we get. NFP is notorious for stop hunts meaning while spike breakouts before returning to normal PA.
If i see price remain or return to the range then I will interpret as the dollar being more neutral and needing further data stimulus to tip it over the edge. Obviously the fed want to raise rates so they would need positive NFP results so immediate DXY direction would be long as we have come off support
yet again we see the dollar index in a range. Waiting for a break to confirm the longer term direction of the pair.
Bare in my NFP is tomorrow, I expect a breakout one way or the other. I will be watching closely to see what type of break we get. NFP is notorious for stop hunts meaning while spike breakouts before returning to normal PA.
If i see price remain or return to the range then I will interpret as the dollar being more neutral and needing further data stimulus to tip it over the edge. Obviously the fed want to raise rates so they would need positive NFP results so immediate DXY direction would be long as we have come off support
