Today, markets are waiting the all-important NFP release. A strong reading could stimulate the Fed to raise rates in its upcoming meeting. In this case, the USD is likely to rise sharply against major currencies, particularly the EUR which is the weakest, since Draghi announced he is open for more QE if required.
Technically speaking, we are tracking two counts on the USD Index, prepared on different short-term scenarios, but both are bullish for mid-term direction. On the first count, I am looking straight up into wave (v) towards the 97.00 area. If it breaks today, with a daily close price around it, then this will be a strong indication for more USD gains next week.
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