Wave Analysis
Following the previous week’s bullish pin bar, this pair is yet to move an inch towards our direction. As long as the price is contained above 111.981-111.873, we expect a possible steep rise towards 113.620. A breakout above this zone will push the price even higher towards the next level 114.21. Conservative traders can wait for a possible buy from the previous week’s opening price with the stop loss below the previous week’s lowest low. This view can only be invalidated in case the price breaks and closes below 111.873.
Trade Recommendations:
Wait for a low risk buy from 111.694 and take profit at 114.230.
Origin: FreshForex
