USOUSD Short - 1h - October 8th 2024

Based on the weekly chart, price is expected to push lower after jumping higher at the opening. Looking at the short term PF, price should pull back up to the 0.5 parallel to retest which is now a resistance after the harsh daily rejection. After that, we expect it to continue lower and fully form the bottom wick of the weekly candle. We can see we have some confluence between the 50 EMA cloud and the ceiling mentioned above which makes a good entry for sells.