The NFP today will be a very important one, either for more dollar weakness if there will be fewer jobs created than expected because then the market will think that FED is now done for real. Or if jobs are strong, above expectations then the dollar can rise further because more jobs, mean a good economy, which means higher inflation. But the FED is looking for lower inflation, so definitely today’s data can be important. NFP expectations are 184k, more than 150k reported for last month. But also we have to keep on revisions. From an Elliott wave perspective dollar index is still at potential resistance, but not sure if wave four is really done, or can be more complex, but eventually, we will look down.
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