Wave Analysis
After breaking below the supportive trendline, the US Dollar continued to the lowerside but has currently pulled back to the upperside but still below this trendline. As long as the price remains below this trendline, we expect nothing but a possible decline towards the level at 107.126. The idea is to wait for a bounce from this trendline to pick a long term sell order with an ideal target at 107.126. If you’re looking at this chart at the moment, my recommendations is that you remain flat but wait for a sell from either the upper trendline or below 107.126.
Trade Recommendation:
Conservative traders should sell a break below 107.126.
Origin: FreshForex
