Wave Analysis
During the previous trading day, the impulsive five wave cycle stretched massively to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price is contained above the previous day’s highest high, we expect further momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (5) and should break above 1.2485 towards 1.2531 or even higher. This view can only be invalidated in case the price breaks below 1.2425.
Trade Recommendations:
Buy a break above the previous day’s highest high.
Origin: FreshForex
