Wave Analysis
US Dollar is forming a good sell for scalpers. Earlier today, this pair has been actively to the upperside but is very bearish on the daily chart and the weekly charts. As it is on the 15 minutes chart, we still expect the impulsive wave (5) to continue to the upperside before we see a move to the lowerside. The idea is to wait for a retracement back to the lowerside towards 109.615 to pick a low risk buy order with your first take profit at 109.855. If you’re looking at this chart at the moment, you should wait for this retracement to pick a low risk buy order.
Trade Recommendation:
Wait
Origin: FreshForex
