Wave Analysis:
During the previous trading day, the impulsive wave (5) extended slightly to the upper side but is yet to hit our target set along the upper resistance trend line. During this intraday, we expect a possible extension of this impulsive wave (5) to the upper side with an ultimate target at 1.39. As long as the price remains above this trend line, I choose to remain long in this pair, If the price breaks below the lower supportive trend line, then the price could drop towards 1.2800. This pair will have a similar wave count to GBPHKD, NZDUSD and EURUSD.
Trade Recommendations:
Expect a possible bullish price rally towards 1.39
Origin: FreshForex
