The dollar had the biggest fall in 6-month and the price was seen breaking below the bottom of a 4-month rising channel.
The NFP was very disappointing and a dovish Fed is starting to look at a possible rate cut based on economic data.
This is already a very clear sign of a major reversal and the dollar is actually resisted and falling from a 618 level in the weekly chart.
Following a poor NFP, the dollar is most likely to resume falling in the first 2 trading days.
The immediate supply zone is seen just below 97, with the next one seen at 97.3.
The NFP was very disappointing and a dovish Fed is starting to look at a possible rate cut based on economic data.
This is already a very clear sign of a major reversal and the dollar is actually resisted and falling from a 618 level in the weekly chart.
Following a poor NFP, the dollar is most likely to resume falling in the first 2 trading days.
The immediate supply zone is seen just below 97, with the next one seen at 97.3.
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Related publications
Disclaimer
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.