Wave Analysis:
For the past few days, this pair has been consolidating within a tight range; not going above 1.1280 or below 1.1233. As long as this pair remains within this range, we choose remain flat momentarily expecting a possible breakout above this zone to continue long with the last motive wave (v) towards 1.1398 and may extend further but should not go beyond 1.1718. Expect a similar wave count in AUDUSD, NZDUSD and GBPUSD. These pairs have a strong positive correlation of up to +74% and will move in the direction during this intraday.
Trade Recommendations:
Expect a possible break above 1.1280 to continue long with an ideal target at 1.1398.
Origin: FreshForex
