Wave Analysis
During the previous trading day, the US Dollar continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the previous day’s lowest low, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the corrective three wave cycle and should go below the supportive trendline towards 100.00 or even lower. This view can only be invalidated in case the price bounces off from the supportive trendline.
Trade Recommendations:
Sell the US Dollar towards the lower trendline.
Origin: FreshForex
