Morning Preview: Here’s What the Strong USD Means for the Majors

Morning Lads,

The Majors were again in the firing line in trade yesterday as the USD kept on with its upward grind. I the same fashion and what appears to be an almost daily occurrence, equities markets kept on melting up as they have done for some time.

Given the strong USD, there are a number of the majors that look set to take out key support levels.

The Euro: Testing 1.1700

The AUD: Looks to be taking out 0.7800

Yen: Can’t quite break above 113.00

The other majors appear to have already broken out, so these are the next ones in line that have the potential for a big move.

US Dollar Index (DXY) – 240 min Chart.

Top Economic Data Today

USD – Non-Farm Payrolls

CAD – Employment

CAD – Ivey PMI

NFP is the big one. Let's hope for a massive day on the markets!! Keep a close eye on the signals page during the U.S. session to get the best trades post-NFP.