Wave Analysis;
The cable is currently trading within a possible triangle formation. Currently the price is around the zone 1.30327-1.30095 which also the base of this triangular formation. This base, 1.30327-1.30095, is a potential buy place and as long as the price is contained above this zone, we’re looking for a low risk buy order with an ideal target along the resistive trendline. This view can only be invalidated in case the price breaks below 1.30327-1.30095, is this is the case, then a steep decline towards 1.27170 is expected.
Trade Recommendations;
Look for a potential buy order towards the upper trendline.
Origin: FreshForex
