Wave Analysis
After breaking below the wedge formation shown above, the cable spiked massively to the lowerside and is still pretty much bearish, As log as the price remains below 1.20990, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the extension of the impulsive wave (v) and should break below 1.20040 towards 1.19 or even lower. The idea is to wait for retracements back towards 1.20990 to pick a low risk sell with you stop loss above the previous week’s highest high.
Trade Recommendations:
Resell the cable from 1.20990
Origin: FreshForex
