The dollar is supposed to be looking unbeatable ahead of an expected scaling back of bond purchases by the US Federal Reserve.
Analysts are polled as dollar bullish. FX option vol curves favor the dollar. A lackluster US jobs report failed to override traders’ focus on inflationary data pointing to increasing likelihood that interest rates have to rise.
Visually, however, USDJPY had become the biggest mover since my last analysis, while the dollar is still mixed against other majors.
The charts at the end of this article are H4 charts of a selection of major FX pairs.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Each pair would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
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All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
