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Elliot_Myers
Sep 3, 2016 6:58 PM

USD Enters Critical Range - Breakout Alert! 

Dow Jones FXCM Dollar IndexFXCM

Description

I've marked in red and green arrows where this range (purple dotted lines) has acted as resistance or support, it's clear that the purple range is a key level for determining if the Dollar will be bullish or bearish as sustained breakouts often occur within this range.

With farm roles lower (as expected) we have a strange scenario where by the Dollar, Gold, Oil and Dollar Yen all closed higher on Friday - Something is going on!

Labor day means Monday's markets will be slow and illiquid however we should be on alert from a break above or below the purple range especially as the BOY chief Kuroda is giving a speech 3:30am UK GMT time which may spark a move from the dollar.
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