Wave Analysis
Since 4th of April this year, the cable has been in an active downward trend, August this year, after an attempt break below 1.30130, the cable pulled back upwards and is now a key level 1.30609. As long as the price remains above this level, we expect a possible continuation with the impulsive wave (c) to the upper side. Currently the price has retraced to the same key level and is showing signs of a bullish momentum to the, we expect to continue long in the long run. However, this can only be invalidated if the price breaks below the level 1.29.
Trade Recommendations
As long as the price remains above this level 1.30609 we are long.
Origin: FreshForex
