DXY _ Not Over yet

6 Okt 2023

DXY clearly waits for Friday’s Non-Farm Payrolls report.

I do expect NFP to come higher than expected (170K) as Jobless claims are dropped from 210k to 207K . Deutsche Bank is a German multinational investment bank and financial services company forecasts the unemployment rate 3.9% and the earnings growtht +0.2% m/m.
Currently the DXY is trading above 200EMA and struggling around 50% to 61.8% fib levels signaling bullish pressure is not over yet .

I do expect DXY to kick up from the levels between 106 to 106.50 to the next level 107.5 followed by 108. Downside(Bearish) can be activated if the price crosses below 105.50 psychological level.