Wave Analysis
The previous day’s candle is a perfect sell candle. And as long as the price remains below the previous day’s highest high, we’re looking for a possible long term sell. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should breakout below 1.10970 towards the last target at 1.04958. As it is, buy orders are very risky, but should price breakout above 1.15304, then this will be an ideal place to consider a low risk buy order with an ideal first target at 1.19043, and the next at 1.25100.
Trade Recommendation:
We’re short towards 1.04955.
Origin: FreshForex
