Wave Analysis:
Other than the fact that the price closed below its previous day’s opening price. Nothing much happened on this pair. Nonetheless, we still expect the price to move steadily to the lowerside and should breakout below the lower supportive trendline. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 1.10620 towards 1.09510. As it is on the daily chart, we don’t recommend looking for buy orders, but should price rise beyond 1.13980, then a buy may be considered.
Trade Recommendations:
We’re looking for long term sell orders towards 1.09510.
Origin: FreshForex
