Wave Analysis
Yesterday, our stops were taken out when the price broke below the supportive trendline, and is still few pips below. This is a possible bears dominance signs, and while the price is contained below the just broken trendline, we’re expect a decline towards 1.2492. Any clear breakout below this support may culminate into a possible momentum even further to the lowerside. As it is, we’re waiting for either a bounce from 1.2492 to pick a low risk, but short term buy order, or a break below to pick a long term sell.
Trade Recommendations:
Sell the cable below 1.2492 with your take profit at 1.2405
Origin: FreshForex
