On the weekly chart, price tested the weekly demand zone around 97.55 – 98.06 and went up. Also price is still trading above the 20 moving average, suggesting more room for the dollar to move up to test the weekly supply zone at 100.33.
On the daily chart, price tested for the second time the daily supply zone at 98.87 and closed below this zone. Also notice the overlapping supply zones: 98.87-99.30 and 99.30-99.75, which go push the price lower to the demand zone around 97.86-98.24.
So for this week, high probability of US dollar breaking above the 99.75 price level with a potential target around 100.14-100.36 levels along with an overall bullish sentiment.
tradingforexhub.net/...4th-of-october-2019/
On the daily chart, price tested for the second time the daily supply zone at 98.87 and closed below this zone. Also notice the overlapping supply zones: 98.87-99.30 and 99.30-99.75, which go push the price lower to the demand zone around 97.86-98.24.
So for this week, high probability of US dollar breaking above the 99.75 price level with a potential target around 100.14-100.36 levels along with an overall bullish sentiment.
tradingforexhub.net/...4th-of-october-2019/