Wave Analysis
Last week, the Us Dollar pulled back to the lowerside , but is still above the daily support level 108.719. This pair looks bullish around 108.719, on the daily chart, but very bearish on the monthly chart. We’re waiting for a rebound from 108.719 to pick a long term long position with an ultimate target at 111.064. If this level is broken,then the price will likely rise further but should not go beyond the next key level 114.272. This view can only be invalidated in case the price breaks below 108.480 and should go further towards 105.040.
Trade Recommendations:
Buy the us dollar around 108.719 towards 111.064
Origin: FreshForex
