As the pair is looking for an acceptance value downtrend, willing buyers emerge at around 79.74 and pushes back the price towards the previous acceptance level at around 80.25. Currently, after the non-farm as well, the price stuck there and awaiting for Monday's traders to emerge. If the price cannot settler there for at least a week or so then I will be expecting for the price to retest the above acceptance area which is around 80.54. Strong supply lies above around 80.74 and that is where I would expect a significant turning point for dollar weakness. Otherwise, a retest of 79.98 is the next thing buyers is waiting for.
Comments
rivac7
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the 4hr demand shows clear buyers out there
JamesPowell
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nice chart, good thinking. Ill be following you from time to time.