Wave Analysis
During the previous trading day, the Us Dollar failed to sustain the break below the supportive trendline and instead is currently above the same trendline and is heading to the upperside, As long as the price remains above this trendline, we expect the previous week’s bounce from 108.30 to have marked an end to the corrective three wave cycle, that the current bullish price rally is the unfolding of an impulsive five wave cycle and could see the price continue upwards towards 109.50 or even higher.
Trade Recommendations:
Remain long towards 109.50.
Origin: FreshForex
