IN THE NAME OF ALLAH THE MOST GRACIOUS THE MOST MERCIFUL
THE DOLLAR DRIFTED LOWER IN EARLY TRADE MONDAY AS VACCINE OPTIMISM AND EXPECTATION OF MORE FEDRAL MONETARY EASING, SAW TRADERS DESERT THIS SAFE HAVEN,THE POSITIVE RECENT NEWS HAD BOOSTED INVESTOR SENTIMENT, IMPOROVING RISK APPETITE HAS NOT ONLY AFFECTED BUT ALSO GOLD AS WE HAVE SEEN GOLD FELL TO ROUGHLY $1764
TECHNICALLY SPEAKING:- AS WE MENTIONED EALIER,THE REBOUND ON AUGEST 31th WAS AN INTERIM,BECAUSE IT IS OF A CORRECTIVE NATURE(3 WAVES , NOT 5), SO WE EXPECTED THAT THE DOLLER WOULD CONTINUE TO DECLINE TO 91.35-89.5 AS I MENTIONED EALIER ON AUGEST 5th
BUT WE COULD BE SLIGHTLY ADJUSTING THIS TARGET TO AROUND 90 IF WAVE1=WAVE5 OR EVEN LESS IF WAVE 5= 1.618 WAVE 1(WAVE 3 OF 5 MORE LIKELY IS EXTENDED) , DOWNSIDE TARGET ABOUT 87.115
HOWEVER FIFTH WAVE POSSIBILLY TAKE A SHAPE OF ENDING DIAGONAL
ALTERNATIVELY:- THE DOLLAR IS STILL ONGONIG CONSOLIDATIING SIDEWAYS AS WAVE FOUR WHICH IS UNFOLDING INTO RUNNING TRAINGLE
