Highlights

The Dollar DXY rises to 104.137 mark, showing resilience despite a strong American job market.
The EURUSD and GBPUSD pairs are cautiously optimistic, awaiting crucial CPI data to provide guidance.
Forthcoming FOMC findings and Barkin’s address are essential for forecasting upcoming interest rate moves.

The market Snapshot

After latest data, the DXY has shown resiliency, with robust job creation of 303K positions stated. Above the predicted 212K, with the rate of joblessness remaining unchanged at 3.8 percent. The EURUSD duo currently trades near 1.0858, whereas the GBPUSD unit is marginally higher at 1.2659 mark, reflecting wary investor confidence.

The Upcoming Activities

The present-day little events, such as the NFIB Small Business Climate Indicator & RCM-TIPP Economic optimism. Could influence investor mood, but the focus moves on the impending CPI figures.

Considering the core consumer price index and CPI MoM predicted at 0.3 percent and 0.4%, to be precise. These readings are critical for assessing rising inflation and their effects on fx pricing. The impending FOMC minutes of the meeting & Barkin’s remarks are both eagerly anticipated for more information.

DXY Technical Picture & Analysis

The DXY rose to 104.137 pts, gaining 0.02 percent. It is presently testing the pivotal point of 103.92. Showing possibility for higher move. Resistance points have been placed near 104.42, 104.70, then 105.09, signifying potential limitations for the price to move.

Supporting has been discovered on 103.54, 103.23, then 102.77 mark. Implying bottoms wherein purchasing may increase. The 50 & 200 D- EMAs, of 103.87 & 103.81 level, each, are close to the pivot point, highlighting its importance.

Source: TradingView

The prognosis continues optimistic over 103.92 mark. Yet sliding under this important confluence might result in a severe bearish reversal for the USD.

EURSD Technical Picture & Analysis

The EURUSD unit fell marginally to 1.08586 mark down 0.02 percent. The pair is expected to close under the pivotal value of 1.0863 mark. Having resistance areas at 1.0911, 1.0963, then 1.0999 mark forming a probable rising trajectory.

Supporting is identified around 1.0800, 1.0747, then 1.0695 mark indicating locations wherein investors may develop. The 5 & 200 D- EMAs, near 1.0825 & 1.08383, accordingly, imply a very strong competition.

The present trend line shows obstruction, resulting in the EURUSD considered negative under 1.0863. A break over this mark could suggest a change towards an upward stance.

The GBPUSD Technical Analysis

The pound’s USD pairing rose to 1.26593, gaining 0.03 percent. Located approximately above the point of pivot @ 1.2647 mark. It offers a chance for additional ascent. Barrier is expected near 1.2710, 1.2750, then 1.2802 mark, showing areas wherein the upward trend may falter.

To the negative side, supports is found around 1.25932 1.2540, then 1.2502 mark. Reflecting probable interest in buying. The 50 & v200 D-EMAs of 1.2632 & 1.2661, accordingly, show an equitable market scenario. The prognosis for GBPUSD duo stays optimistic over 1.2646. Though a collapse beneath this point might result in an enormous adverse change.

Technical Indicators & Signals

EURUSD

GBPUSD