Wave Analysis
The US Dollar is currently rallying within a contracting triagulor formation. Following the bounce from the upper trendline, we expect a possible decline towards the level 105.596. The anticipated bearish price rally is the continuation of the impulsive wave (V) and could break below the level 105.596 but should not go lower than 100.00. And on the flip-side, should price break above the upper trendline, then further momentum to the upperside is expected with the next ideal target being at 106.735.
Trade Recommendations:
Sell the us Dollar towards 105.598
Origin: FreshForex
