Wave Analysis:
After drastic drop towards 110.700, the US Dollar bounced back to the upperside and is currently very bullish. As long as the price remains above 110.700, we expect a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and should breakout above 111.867. A clear rise beyond this level will push the price to the upperside towards 114.00. A breakout to the upperside will push the price steeply to the upperside towards the monthly resistance level seen at 117.00.
Trade Recommendations:
Buy the US Dollar above 111.867 towards 114.23
Origin: FreshForex
