Both FX indies closed with bullish coloured indecision-style weekly candles and both remain in range-bound trading patterns. The take-away from this is that caution is needed in coming sessions for any trend trading of Forex pairs.
USDX weekly: an indecision-style ‘Spinning Top’ candle albeit bullish coloured. NFP offered decent job growth although the headline rate and the wages component were both disappointing data prints.
USDX daily: this is looking Bear Flag like for now so watch the recent low for any new make or break:
EURX weekly: an indecision-style ‘Spinning Top’ here too and still shaping up in a potential Bull Flag:
FX Index Alignment: the FX Indices are not aligned at the moment but it would only take a bit of US$ weakness to tip these into ‘risk on‘ alignment.
Calendar: there is a fair bit of data in the coming week that could impact these indices:
