Wave Analysis
The US Dollar continues to rally above 108.573 and is still very much bullish on the weekly charts, we expect the rebound from 108.573 to have marked the end of the corrective wave (b), that the current bullish price rally is the unfolding of the impulsive wave (c) to the upper side and may stretch beyond 111.560 but should not go beyond the weekly resistance level 114.479. This view can only be invalidated in case the price breaks below 108.573. This being the case, we’ll expect a rally to the lower side.
Trade Recommendation.
Remain long with your first target at 111.560 and the next at 114.479
Origin: FreshForex
