US Dollar Index Outlook: Down But Not Out, NFPs Eyed on SEP 3
A majors-based US Dollar Index, one that averages USD against EUR, JPY, GBP and AUD, declined this past week.
Prices confirmed a bearish Evening Star candlestick pattern, hinting at further losses in the near term.
Still, the broader uptrend since June still remains in play. A bullish 'Golden Cross' between the 50- and 200-day Simple Moving Averages is in play.
The 50-day line could reinstate the focus to the upside in the coming sessions. Otherwise, breaking under it could shift the outlook materially bearish.
A softer US non-farm payrolls report on September 3rd will be closely eyed by Greenback traders. Given the Fed's recent tone at the Jackson Hole Economic Policy Symposium, a softer jobs print could push back taper timeline expectations. Such an outcome could be positive for market sentiment, threatening the anti-risk USD.
EEURUSD+FX_IDC
Prices confirmed a bearish Evening Star candlestick pattern, hinting at further losses in the near term.
Still, the broader uptrend since June still remains in play. A bullish 'Golden Cross' between the 50- and 200-day Simple Moving Averages is in play.
The 50-day line could reinstate the focus to the upside in the coming sessions. Otherwise, breaking under it could shift the outlook materially bearish.
A softer US non-farm payrolls report on September 3rd will be closely eyed by Greenback traders. Given the Fed's recent tone at the Jackson Hole Economic Policy Symposium, a softer jobs print could push back taper timeline expectations. Such an outcome could be positive for market sentiment, threatening the anti-risk USD.
EEURUSD+FX_IDC
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.