The past week, after a recovery, the US Dollar continued its ongoing downtrend. According to analysis, the short-term decline from t1 to l2 is still not over.
The price shows a tendency to continue moving toward the support convergence zone around 101.7. After reaching that level, if there is a reversal, the price may enter a larger recovery phase.
However, the main trend is still a strong downtrend, so avoid entering the market with positions that go against the primary trend. Pay special attention to Thursday’s unemployment claims report, which will significantly impact the US Dollar.
Therefore, always remind yourself to follow risk management principles to create a steady profit flow and gradually achieve both financial and mental freedom.
By. Pham Thanh Bien
