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As you can see in the analyzed chart, in the 4-hour time frame, the price is fluctuating in a sideways trend with downward trends, which is ready due to the trend cycle and also the ceiling below $1.293 in the trend. Start the downtrend at $1.0182. We assume that this point is the intersection with the 2-month trend line.
Currently, the price is hovering at $1.01804 and we expect buyers to push the price up to $1.02382, after which we will see bears resisting and dominating the market in the New York market session.
It also adds to the strength of our bearish scenario on Friday's news data, leading to a strong dollar.
As you can see in the analyzed chart, in the 4-hour time frame, the price is fluctuating in a sideways trend with downward trends, which is ready due to the trend cycle and also the ceiling below $1.293 in the trend. Start the downtrend at $1.0182. We assume that this point is the intersection with the 2-month trend line.
Currently, the price is hovering at $1.01804 and we expect buyers to push the price up to $1.02382, after which we will see bears resisting and dominating the market in the New York market session.
It also adds to the strength of our bearish scenario on Friday's news data, leading to a strong dollar.