The dollar did not turn out what was expected and the entire sentiment has turned from a bullish to bearish.
It started off by falling for 2 consecutive days which dived a little deep below the breakout level of 97.7 but managed to pull another 2 days of bullish movement that covered most of the weekly losses.
And then the market chose to buy the story and sell the fact which led the dollar to sink below the breakout level once again, which also cause a break at the bottom of the rising channel.
So this week, more bearish movement is definitely expected and there's a good chance for it to reach the demand zone just below 97 before we see any significant rebound.
It started off by falling for 2 consecutive days which dived a little deep below the breakout level of 97.7 but managed to pull another 2 days of bullish movement that covered most of the weekly losses.
And then the market chose to buy the story and sell the fact which led the dollar to sink below the breakout level once again, which also cause a break at the bottom of the rising channel.
So this week, more bearish movement is definitely expected and there's a good chance for it to reach the demand zone just below 97 before we see any significant rebound.
