Wave Analysis
the cable is still below the level 1.26810. And as we stated on our previous forecast, as long as the price is contained below this level, we’re likely to see a steep decline towards 1.24405, The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and should extend beyond towards 1.2310. As we mentioned, the best, risk free way to trade this pair is to work with a pending Sell order fixed at 1.26810, this sell order should have a stop loss above 1.27805 and an ultimate target profit at 1.2012.
Trade Recommendations:
Place a pending sell Limit order at 1.26810, and take profit at around 1.20.
Origin: FreshForex
