Wave Analysis
Last week, there was a bullish pin bar, however, the price is yet to pick a momentum to the upper side. We recommended a long position around 108.57, however, if you didn’t have the opportunity to pick this position, you could wait for minor pullbacks to pick a low risk long position. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should break above 111.70, but should not go beyond the next key level 114.48. If the last is broken, then long term traders should look for another long position towards 118.23.
Trade Recommendations:
We’re long with the first target at 111.70.
Origin: FreshForex
