Wave Analysis
This pair moved downwards yesterday,and is currently below a key resistance level 1.1467. the previous day’s candle is a possible bearish confirmation candle on the daily chat, and the price will likely continue moving upwards, going to the support level 1.1285. The anticipated bearish price rally is a mere corrective three wave cycle correcting the immediate five wave cycle. A key support level can seen around 1.11372, as long as this level protects the lower side, we expect the anticipated three wave cycle not close below it. Expect a similar wave count in GBPUSD, AUDUSD and EURHKD. These pairs will have a similar price rally during this intraday.
Trade Recommendations:
Expect a possible bearish price rally towards 1.1285
Origin: FreshForex
