Dollar is weakening as expected due to QE, SMCCF and etc.
We have seen Dollar pairs diving steep, EU, GU and AU etc in the past weeks till now.
1. Broke the bear flag and it started to drop
2. Reached Red line - Previous support that not consider as heavy support, just normal support
3. With price forming lower low, MACD doesn't create lower low.
4. Expecting a small bounce from the support, if possible might break the falling wedge and go for higher
5. Target 97.50 within few small waves
6. Due to weaken Dollar, I don't expect to have huge jump to area above 99 as of now.
We have seen Dollar pairs diving steep, EU, GU and AU etc in the past weeks till now.
1. Broke the bear flag and it started to drop
2. Reached Red line - Previous support that not consider as heavy support, just normal support
3. With price forming lower low, MACD doesn't create lower low.
4. Expecting a small bounce from the support, if possible might break the falling wedge and go for higher
5. Target 97.50 within few small waves
6. Due to weaken Dollar, I don't expect to have huge jump to area above 99 as of now.