Wave Analysis
Despite the previous correction, the US Dollar closed above the zone 111.907-111.681. As long as the price is contained above this zone, we expect nothing but a possible momentum to the upperside with an ideal target at 114.014. The idea is tom wait for possible correction towards the previous week’s opening price to pick a low risk buy order. Conservative traders can have a pending buy limit order around the previous week’s opening price and stop loss below the previous week’s lowest low and take profit at 114.12.
Trade Recommendations:
Have a pending buy limit order around 111.694 and take profit at 114.25.
Origin: FreshForex
