While JPY is strong after US NFP miss, USD’s performance is not bad. It’s closely following JPY as the second strongest one for the day. And indeed, USD is trading above yesterday’s high against EUR, GBP, CHF.
Looking at USD Action Bias table, D Action Bias show USD is in uptrend against EUR, GBP, CHF, CAD. 6H Action Bias, being neutral, suggest that these pairs were in consolidation. And H Action Bias argues that the trend might be resuming.
Of course, we’ll have to look at the individual pairs too. There isn’t much problem with the bearish view as seen in EURUSD action bias table. Now, we just have to wait for 6H Action Bias to turn red to confirm return of downside momentum.
