Wave Analysis
Just as previously forecasted, the US Dollar rallied to the lowerside but has not broken below the supportive trendline. We expect the current bearish price rally to be a corrective wave count and may successfully close below the supportive trendline. If this is the case, then a momentum to the lowerside is expected with a ultimate target at 106.20. And on the flipside, should the price bounce off from the same trendline, then this will be an ideal place to look for a long term buy order with an ultimate target at 110.00.
Trade Recommendations:
Buy a bounce from the supportive trendline.
Origin: FreshForex
