Wave Analysis:
During the previous trading day, the US Dollar bounced off from the upper trendline acting as a resistance to the flag formation. As we mentioned in our previous forecasts, we’re waiting for a break above the upper trendline to confirm that we’re long with our ideal target being 114.25. The idea here is to either buy a break above the upper trendline, or wait and buy a bounce from the lower trendline with an ideal target at 114.25. If this target is broken, then further momentum towards 117.00 or even higher to 118.00 is expected.
Trade Recommendations
Remain flat for now
Origin: FreshForex
