Wave Analysis
The US Dollar is currently trading within a range, not going above 106.771 or below 105.024. We expect the bounce from 106.771 to have marked an end to the corrective wave (D) That the current bearish price rally is the continuation of the impulsive wave (E) and should breakout below 105.024 towards 104.340 or even lower. The idea is not to look for a sell right now, but rather, wait for pullback towards 106.771 to pick a low risk sell order and on the flip side, should price break above 106.771, then we will consider a buy.
Trade Recommendations:
Resell the US Dollar from 106.771 towards 105.024.
Origin: FreshForex
