Wave Analysis
During the previous trading, the impulsive wave (E) continued to the upperside and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above this trendline we expect nothing but a possible momentum to the upperside, the price should break above 108.560 before we see a move even further to the upperside towards the upper trendline. As it is on the chart, only buy positions looks more ideal, but should price break below this supportive trendline, then we expect a momentum to the lowerside.
Trade Recommendations:
We’re looking for long term buy orders towards the upper trendline.
Origin: FreshForex
