Wave Analysis
The US Dollar is still above our level 110.916. According to the current chart set up and structure, we’re waiting for a slight retracement back to 110.916 to pick a low risk buy order towards 114.191. This is merely the continuation of the impulsive wave (iii) and should first try a pullback as we’ve mentioned above. A breakout above 114.136 will push the price even higher. Conservative traders can wait for this retracement, and could alternatively wait for a breakout above 114.23 to pick a low risk buy towards 117.25.
Trade Recommendations:
Wait for a rebuy from 110.916 to pick a low risk buy.
Origin: FreshForex
