Wave Analysis
Yesterday, the US Dollar rose tremendously, and is still pretty much bullish both on the daily and the weekly charts. As we mentioned in our previous forecast, while the price is still shielded on the upperside by the weekly support level 110.836, we’re upwards. The anticipated bullish price rally is the continuation of the impulsive wave (iii) to the upperside and should breakout above 114.17. In the long run, we expect both the impulsive wave [c] and (v) to continue upwards but should not rise beyond 117.00.
Trade Recommendations:
Remain long towards 114.32.
Origin: FreshForex
