Wave Analysis
For sometimes now, the US Dollar has been in an active up trend and is being resisted by the upper trendline. As long as this trend line is not broken to the upper side with a big green candle, we expect nothing but a possible momentum to the lowerside. According to this chart, should the price break above 114.00, then this will be an ideal place to look for a long term long position with an ultimate target at 118.00. And on the flip side should the price break below 112.445, then this will be an ideal place to look for a long term short position towards 111.535.
Trade Recommendations:
We’re long above 114.00.
Origin: FreshForex
