Traders' inclinations are towards the dollar!
China's recent risks took traders' tendencies towards the dollar at the beginning of the week.
Examining the state of the trend on the four-hour time frame using Elliott Wave Theory, the recent top created on November 24 is not yet an evolution of the uptrend from November 21. To create a major pivot, it is necessary for the price to be pulled below the range of 1.2012 - 1.1979.
As long as the price trend is above this zone, we can hope for continued growth up to 1.2245-1.2260.
Stabilization above the range of 1.2104 - 1.2087 is a suitable confirmation for the return of bullish tendencies to the market. One can be patient until the price returns to the top of the zone to reduce the risk of buying transactions.
Examining the state of the trend on the four-hour time frame using Elliott Wave Theory, the recent top created on November 24 is not yet an evolution of the uptrend from November 21. To create a major pivot, it is necessary for the price to be pulled below the range of 1.2012 - 1.1979.
As long as the price trend is above this zone, we can hope for continued growth up to 1.2245-1.2260.
Stabilization above the range of 1.2104 - 1.2087 is a suitable confirmation for the return of bullish tendencies to the market. One can be patient until the price returns to the top of the zone to reduce the risk of buying transactions.
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