The dxy technical challenge shows a possible uptrend which is can be confirmed by the data coming at 2:30- our suggestion is that the data will be positive for the US dollar since yesterday ATP no phone payroll came strong and it's going to be a strong indication.
If the data confirms our logic, we expect another 0.40% positive appreciation of the dollar against the euro.
Have to mention I'll be on at a critical into the point where the market right now is ranging, clearly showing that major players is waiting for the data, and then the price field break out.
As we get closer to the weekend I do believe more and more Market participants like the position themselves to be safe and file into the dollar if so during the weekend the government of United States will hint or impose tariffs on the European Union.
If the data confirms our logic, we expect another 0.40% positive appreciation of the dollar against the euro.
Have to mention I'll be on at a critical into the point where the market right now is ranging, clearly showing that major players is waiting for the data, and then the price field break out.
As we get closer to the weekend I do believe more and more Market participants like the position themselves to be safe and file into the dollar if so during the weekend the government of United States will hint or impose tariffs on the European Union.
Note
Corrected version- SpeachText struggled with my english :) The DXY technical indicates a possible uptrend, which could be confirmed by the data release at 14:30 (BudapestTime) Our expectation is that the data will be positive for the US dollar since yesterday’s ADP Non-Farm Payroll report came in strong, serving as a significant indicator.
If the data aligns with our logic, we anticipate an additional 0.40% appreciation of the US dollar against the euro.
It is important to mention that we are currently at a critical inflection point, as the market is ranging, clearly signaling that major players are waiting for the data before a potential breakout occurs.
As we approach the weekend, I believe more market participants will position themselves cautiously, seeking safety in the US dollar. If this happens, and the US government hints at or imposes tariffs on the European Union, it could further drive dollar strength over the weekend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.