Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
USDOLLAR Flag Top Tested as Attention Turns to US NFPs

USDOLLAR Flag Top Tested as Attention Turns to US NFPs

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- USDOLLAR Index nears flag resistance of 12063.

- EURUSD, GBPUSD, and USDJPY all starting to participate in move.

- See the DailyFX economic calendar for Thursday, August 6, 2015.

Now that the BoE's "Super Thursday" is in the rearview mirror, market attention will quickly shift to the headline event of the week: the July US labor market update. Markets are fairly optimistic on the outcome of tomorrow's report, with the probability of a September rate hike having surged from 38% to 55% the past two days (per the Federal Funds future contract implied probabilities). Irrespective of the outcome, a bigger than normal burst of volatility seems guaranteed around the US labor market data.

See the above video for technical considerations in EURUSD, GBPUSD, USDJPY, AUDUSD, and the USDOLLAR Index.

Read more: USDOLLAR Index Nears Flag Top as EUR/USD Loses Triangle Support

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.