Wave Analysis
During the previous week, the impulsive wave (c) extended significantly to the upper side but is still several pips below the daily resistance level 114.360. During this trading day and possibly for the better parts of this week, we expect this impulsive wave count to stretch further to the upper side and may break above 114.360. If you’re not already in a long position, you could wait for slight corrections to the lowerside before picking a low risk long position. The best place to rebuy the Us Dollar is around 111.040.
Trade Recommendation:
Remain long towards 114.360
Origin: FreshForex
