Wave Analysis
During the previous trading day, the US Dollar continued on its way to the lowerside but failed to break below the dynamic support marked by the envelope indicator. As long as the price remains above this dynamic support we expect nothing but a possible momentum to the lowerside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break above last month’s highest higher towards 118.00. And on the bears side, in case of a break below 112.879, then we may consider a sell position.
Trade Recommendations:
We’re long.
Origin: FreshForex
