In the name of God, the most gracious, the most merciful
Despite the continuous negative data on the dollar in the past week, the dollar made a surprise rise to 102.70 levels.
Whereas the dollar made a positive weekly closing, and is now trading in the daily supply area.
(expect)
The likely scenario is to descend from the daily supply area and head to (101.48) levels, and then the dollar will be bought from the area when any price action signal that supports our ascending occurs.
The secondary (alternative) scenario is to continue rising above the daily supply, then close above it, and head to the weekly supply area, which lies between (105.32 – 107.93).
analysis image
* Note / the dollar is purchased when it reaches the aforementioned demand area – condition – buying with
Price Action
* Note / the dollar is sold from the specified supply area – condition – the occurrence of a price action that supports the decline
