Wave Analysis
After a bullish spike seen during the previous trading day, the US Dollar is currently consolidating within a converging wedge formation. On this chart, we’re patiently waiting for a break above the upper trendline or a bounce from the supportive trendline to pick a buy with an ideal take profit at 107.005. Should price go above this level, then this will be a good place to look for a long term buy order towards 110.00 or even higher. ON the flip side, only a break below 106.255 to pick a sell.
Trade Recommendations:
Buy a bounce from the supportive trendline.
Origin: FreshForex
