Wave Analysis a possible
Few days ago, the corrective wave (4) attempted a breakout below 1.15390-1.14040 but ended up pulling back above it. As long as the price remains above this zone, we expect a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break beyond the upper trendline with the next ideal target being 1.50625. This view can only be rendered futile in case the price breaks below 1.14040, if this is the case, then an acceleration further downwards is expected.
Trade Recommendations:
We’re looking for a long position towards the upper trendline.
Origin: FreshForex
