Wave Analysis
Instead of continuing to the lowerside as previously forecasted, the US Dollar rallied to to the upperside and even went above the upper trendline acting as the top of the falling channel. As long as the price remains above this trendline, we expect further momentum to the upperisde and should break above 108.440 towards 110.10 or even higher. This view can only be invalidated in case the price breaks below 106.745, if this is the case, then further momentum to the lowerside is expected with the next ideal take profit at 105.290.
Trade Recommendations:
Buy the US Dollar only up to 108.440.
Origin: FreshForex
