Wave Analysis
Instead of continuing to the upperside, the impulsive wave (v) failed to break above the upper trendline, instead it bounced off from this trend line and is currently heading ti the lowerside. We expect the bounce to have marked an end to the impulsive wave (v) that the current bearish price rally is the continuation of a correction to the lowerside and should break below the supportive trendline to the lowerside. If this is true, that the price successfully breaks below the lower trendline, then we’ll expect a steep momentum towards 106.90.
Trade Recommendations:
Sell the Us Dollar with your take profit at 107.90.
Origin: FreshForex
