Wave Analysis
The current dominant trend on this pair is downwards. As long as the price remains with the converging wedge formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below the recent lowest low towards 1.06222. The idea is to wait for further correction to the upperside to pick a low risk sell order. Conservative traders can wait and sell a break below 1.11270 towards 1.06220.
Trade Recommendations:
We’re short towards 1.06220.
Origin: FreshForex
