📊We Anticipate a Bullish Week but this Chart will be very Useful for us to have Calculative Risks. This Chart is important. Very
🔍Finding the Supply zones, the Crescent being at (Prox line - 105.436 & Distal line - 105.546) which are Lower Timeframe Supply zone, if Sellers Push Price Lower than they Did Today, a break through the Gibbous, 105.064 will send the Price Dropping into the Higher Timeframe Supply zone 104.731.
The HTF Supply zone, 104.731 should be the Stop Loss. Calculate your Risk with this zone considered as Price Path. Take this as caution.
🗓We'll only have 2 Entries this week, the second will be waiting for Price to fall into the 104.731 and Aggressive Buy will be the Answer
⏰The Market is at Neutral phase, A drop will mean more money for Buyers, A Bullish wave will usher in wave 2, which is the Longest wave
🎉This Bullish wave will push Price into the SUPPLY ZONE (Proximal line - 105.834 & Distal line - 106.458)
USD BEARISH THEMES
Anticipated slowdown of the US economy
The hurdle for raising rates this month is higher, implying fresh US Dollar falls
Dollar weakness will pick up pace during 2024 as market attention turns toward Fed rate cuts
Fed feels more comfortable with receding inflation
US Dollar's position as the primary global reserve currency is being challenged
America on verge of losing petrodollar privilege
Other regions may need to continue their crusade for inflation, reducing spreads of debt securities yields
Combination of lower Fed rate expectations and improved risk sentiment is quintessentially negative
No more Fed hikes, potentially lethal to the US Dollar
US economy to slip into recession, Fed eventually cut rates quicker than peer institutions
Sticky inflation? What is sticky is the downtrend
Fed will start cutting interest rates quicker than foreign central banks
Backing the US disinflation process and lower US rates