Wave Analysis
Just as in the Euro, the cable spiked upwards, but ended up closing below its opening price. The previous day’s candle is a bearish candle, but since the previous week’s candle was a perfect bullish pin bar candle, we’re hesitant to look for a sell order, instead we’re waiting for a surge towards 1.28718 to pick a long term buy order. Any rise above the previous day’s highest high will mean we’re continuing long with the last impulsive wave (c) to the upper side towards 1.32150. a break above this target will push the price even higher towards 1.34.
Trade Recommendations:
Flat
Origin: FreshForex
