Last week continued to be a week of small recovery and continued decline, just as analyzed in the previous week. So when the main trend is down, and the us dollar line has broken through the supportive convergence zone, what will our actions be?
Exactly! We will wait for the price to recover to the resistance convergence zone – the previously broken support convergence zone. According to analysis, the convergence zone we need to notice is 101.3 – 101.5 and the nearest target price is 99.6.
Especially in the middle of the week, there will be a convergence of important news such as Prelim GDP, Unemployment Claims… These news releases will directly affect the price as soon as they are announced.
Do not take orders that go against the main market trend to avoid unnecessary risks.
Wishing investors smart and effective investment strategies. And stay tuned for the next US Dollar updates.
By. Pham Thanh Bien
