Wave Analysis
After an attempt breakout above the upper trendline, the US Dollar is now below the same trendline but within the falling wedge formation. While the price is within the falling wedge formation, we expect nothing but a possible momentum to the lowerside. As long as the price remains within the falling channel, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the corrective three wave cycle and should break below 109.510 but should not go below 106.130.
Trade Recommendations:
We’re short
Origin: FreshForex
