Wave Analysis
According to the 15 minutes chart attached, the US Dollar is currently rallying within a descending channel formation. As long as the price remains within this shape formation, we’re eyeing a possible breakout below the lower supportive trendline to look for long term sell orders with the first ideal target at 109.040. Ideally, a breakout below this trendline may culminate into further momentum to the lowerside. And on the flip-side, should price breakout above the upper trendline, then we’ll wait for a confirmation that we’re upwards.
Trade Recommendations:
Wait for a break below 109.160 to pick a low risk sell order towards 100.00.
Origin: FreshForex
