Wave Analysis
Instead of rallying to the lowerside, the US Dollar rallied to the upperside but is still below 113.10. This is a key daily level and unless the price clearly breaks above it, we’re waiting for a clear rebound from it to mark an end to the corrective wave (b), if this is the case, then we’ll wait for a clear signal to sell the last impulsive wave (c) to the lowerside with an ultimate target along the lower supportive trendline, if this trendline is broken, then further momentum towards 111.80, a break below this target will push the price further to the lowerside.
Trade Recommendations:
We’re short from 113.10 towards 111.30.
Origin: FreshForex
