Wave Analysis:
Despite the previous week’s bullish pin bar, the cable is yet to show any clear move to the upperside. What is most significant now is that the price is above the weekly support line 1.31896. As long as the price remains above this level, we expect a possible momentum to the upperside. The anticipated bullish price rally is the unfolding of an impulsive wave count and should break above 1.38360 but should not go above 1.42905. This view can only be invalidated in case the price breaks below 1.31896.
Trade Recommendations:
Buy the cable towards 1.38360
Origin: FreshForex
