Wave Analysis
On 3rd of October, the US Dollar established a support around 106.689 and is still pretty much above this line. As long as the price does not go above 107.107 or below 106.689, we recommend only trading reversals. A reversal from 107.107 will attract a sell while a reversal from 106.689 will attract a buy. However, in case the price breaks any of these levels, 107.107, 106.689, then this will be a good place to look a breakout trade. As it is on the hourly chart, we expect a break below 106.689 to resell the last impulsive wave (v) towards 105.21.
Trade Recommendations:
Sell a bearish break below 106.689.
Origin: FreshForex
