The DXY closed lower for the week and the EURX closed higher, however, both indices have potentially bullish patterns on their 4hr charts. Next week brings US NFP so watch to see which way the jobs data gets the DXY moving.

DXY

DXY weekly: a bearish weekly candle and I have revised the trend lines. However, the horizontal 91.75 is the main support level to watch in coming sessions:

DXY daily: very little momentum here still:

DXY 4hr: holding above 91.75 support BUT note the look of a bullish-reversal Descending Wedge on this time frame so keep an open mind:

EURX

EURX weekly: a bullish weekly candle and Bull Flag breakout:

EURX 4hr: the whole-number and recent High region of 120 is the Resistance to watch here. Note the look of a bullish Double Bottom or W pattern here with 120 as the breakout neck line:

FX Index Alignment: The FX Indices are still aligned for classic risk-on for currencies so watch to see if this persists:

• EURX: is above the 4hr Cloud and above the daily Cloud so aligned for STRONG EUR$ price action.
• USDX: is below the 4hr Cloud and below the daily Cloud so aligned for WEAK US$ price action.

Calendar: It is NFP week next week!