Wave Analysis:
Just as in the cable, the bulls took full control of this pair the previous trading day and is still pretty much bullish both on the daily and the weekly charts. Today and in the next few days, we expect a possible extension of the impulsilve wave (5) to the upper side and should break above 1.2965 or even higher. If you’re not already in a long position, you could wait for a break above 1.470 to confirm a possible bearish price rally towards 1.35 or higher. This pair should be traded alongside GBPUSD, EURHKD, and NZDUSD. These pairs have a strong positive correlation and will move in the same direction today.
Trade Recommendation:
Remain long with your target at 1.35
Origin: FreshForex
