Wave Analysis
The US Dollar continues to edge higher and us just a couple of pips from 114.060. We expect further momentum towards this level and should break even higher. The level 114.060 is a key daily level and any clear breakout above it will attract a long term long position. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should go beyond 117.00 towards 121.00 or even higher. As it is on the weekly chart, only a clear breakout below the dynamic support will attract a long term short position.
Trade Recommendations:
Remain long with your take profit at 114.050.
Origin: FreshForex
