Wave Analysis
For sometimes now , the corrective wave [b] has been on the bearish end, but is currently approaching a key weekly support 107.999. This level is not only a weekly support, but also a daily support. As long as the price is contained above it, this is a good place to look for a buy from. Basically, we’re waiting for a bounce from it to pick a low risk buy order. The anticipated bullish price rally is the unfolding of an impulsive five wave cycle and should breakout above 112.011 and the next level at 114.548.
Trade Recommendations:
We’re looking for long term buy orders from 107.990 towards 112.011.
Origin: FreshForex
