Dollar - Weekly Forecast 18th - 22nd March
The dollar fell for 3 consecutive days before it started to consolidate.
An inside bar was formed after Thursday but the price failed to break below the inside bar after as it continued to fall after Thursday's retracement.
The intention of the price still points toward further depreciation but since it failed to break 96.4, there's a good chance that the price may retrace upward at first.
If the price climbs in the earlier part of this week, the next key level to look out for is at 97 supply zone.
If the price falls first and breaks below the inside bar, we can wait for it to retrace after the break and expect the price to fall towards the bottom of the ascending triangle at 96.
An inside bar was formed after Thursday but the price failed to break below the inside bar after as it continued to fall after Thursday's retracement.
The intention of the price still points toward further depreciation but since it failed to break 96.4, there's a good chance that the price may retrace upward at first.
If the price climbs in the earlier part of this week, the next key level to look out for is at 97 supply zone.
If the price falls first and breaks below the inside bar, we can wait for it to retrace after the break and expect the price to fall towards the bottom of the ascending triangle at 96.
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