The FX Indices are aligned for LONG EUR$ and SHORT US$ ahead of Friday’s NFP. This could all change depending on how NFP plays out but it is worth keeping in mind. I will update again over the w/e.
USDX: aligned for SHORT US$ as price is BELOW both the daily and 4hr Ichimoku Cloud:
USDX daily:
USDX 4hr:
EURX: aligned for LONG EUR$ as price is ABOVE both the daily and 4hr Ichimoku Cloud:
EURX daily:
EURX 4hr:
Summary: the FX Indices are currently aligned for ‘risk on‘ or for LONG EUR$ and SHORT US$ ahead of today’s NFP data. This economic data could shift the alignment but continuation could support the onset of some decent trending market action and, thus, is worth monitoring.
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