Wave Analysis
Currently, the cable is bouncing off of a supportive trendline. While the price is contained above this trendline, I expect nothing but a possible momentum to the upperside. We’re waiting for a clear bounce from the immediate support trendlne to pick a buy order. And in case the price breaks below this support, I expect nothing but a possible momentum to the lowerside towards 1.2492. A breakout below this support will push price downwards towards 1.24 or even lower. A buy from this trendline will push price towards 1.2765.
Trade Recommendations:
Buy the cable towards 1.2765.
Origin: FreshForex
