Wave Analysis:
The US Dollar went perfectly to the lowerside as expected and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below both the horizontal level 111.867 and the resistive trendline, we expect a possible steep decline towards 110.340. The idea is to wait for a possible correction before you pick this sell. Conservative traders should wait for a breakout above 111.867 to confirm that we’re upwards with the next ideal target being 114.56. A close below 109.600 will push the price lower.
Trade Recommendations:
We’re short from 111.867.
Origin: FreshForex
