Wave Analysis:
The US Dollar has not made any significant move to our direction. We expect a rise towards 107.65 and a possible breakout, but as it appears, this pair could stall somewhere below this level. We choose to remain on the sidelines, however, any clear move towards 107.65 will mean waiting for a break above it to pick a long position with an ultimate target at 111.11 or even higher. According to the current chart set up and structure only long positions looks more ideal, however, if the price can break below 105.38, then we expect further momentum towards 100.00.
Trade Recommendation:
On the sidelines
Origin: FreshForex
