While we usually discuss individual currency pairs in our alerts, in today’s issue we would like to say more about the general direction of the USD Index – it provides the context for moves in the individual currency pairs and can thus help us to determine what’s likely to happen not only in the coming days, but also in the coming months.

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Although the euro moved a bit higher against the greenback yesterday, currency bears didn’t give up and EUR/USD declined earlier today. How low could the exchange rate go in the coming days?

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From today's point of view, we see that the situation developed in line with our expectations and EUR/USD declined on Friday. Will currency bears manage to push the pair lower?

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Although the jobless rate unexpectedly dropped to 4.1%, from 4.2%, the monthly employment report showed that non-farm payrolls increased by 261,000 in the previous month, missing expectations of 310,000 jobs. Thanks to these mixed numbers, the USD Index is trading in a narrow range around 94.50. Will we see a stronger greenback and a weaker euro or vice-versa?

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Although GBP/USD increased a bit recently, the resistance area created by the mid-October highs continues to keep gains in check. What’s next for the exchange rate?

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