Wave Analysis
Since May 13th , the cable has been actively to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price is contained below the cloud formation, we expect nothing but a possible momentum to the lowerside. We’re waiting for a clear sign that the corrective wave (4) is ended so that we sell the last impulsive wave (5) to the lowerside. Conservative traders can wait for a breakout below 1.26310 to pick a low risk sell orders with an ultimate target at 1.23 or even lower.
Trade Recommendations:
We’re looking for sell orders towards 1.23.
Origin: FreshForex
