Wave Analysis
The impulsive wave (5) barely reached 110.00 before making a correction to the lowerside, we expect the gap which was seen earlier today to be an onset to a corrective wave count and should see the price rally even lower but should not break below the supportive trendline. If you’re looking for a long term trade on this pair, then best place to pick a buy from is from the supportive trendline, but should the price break below this trendline, then further momentum to the lowerside, is expected towards 106.40.
Trade Recommendations:
Expect a possible sell towards the supportive trendline.
Origin: FreshForex
