Wave Analysis
the US Dollar rose significantly during the last trading day but is currently correcting its sell to the lowerside, we expect the decline currently being seen to be a mere corrective rally and should not go beyond 107.790, if the price can break below this level, then further momentum towards 107.345 is expected. The anticipated bearish price rally is the continuation of a corrective three wave cycle and should not go beyond 107.345. This view can only be invalidated in case the price breaks above 108.145.
Trade Recommendations:
Look for sell positions towards 107.435.
Origin: FreshForex
