As analysis last week, after retesting 105.01, the US Dollar grew to 105.7 and is now showing signs of reversal. Along with our previous assessment that the continuation pattern appears to be complete, our strategy for the upcoming period will be to prioritize selling.
The impending downward trend of the second million-dollar pattern will significantly impact the precious metals market, including gold, silver, and copper, as well as commodities like oil.
We will wait for the price to recover to the nearest resistance level at 105.5 – both to gain momentum for the downward trend and to apply our GAP trading strategy – before following the market.
Remember that the initial phase, or the creation wave, is always unpredictable. Therefore, strictly adhering to risk management rules is essential. This approach will help generate sustainable profits and build prosperous, happy lives for yourself and those around you.
Wishing investors smart and effective investment strategies. Stay tuned for the next US Dollar updates!
By Pham Thanh Bien
