Wave Analysis
After breaking below the triangular formation shown above, the US Dollar has been actively to the lowerside and could continue further towards 105.00. As long as the price remains below 105.800, we expect nothing but a possible momentum to the lowerside. For the next few hours we expect a possible retracements to the upperside but should not go beyond 105.800 where we’ll be looking for a long term sell at the lowest risk possible. This view can only be invalidated in case price breaks above 105.800.
Trade Recommendations:
Conservative traders should wait for a resell from 105.800.
Origin: FreshForex
