Wave Analysis
So far, the Us Dollar is below a significant supportive trendline. As long as the price is held below the immediate supportive trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of a corrective wave count and could see the price rally even lower with an ultimate target around 106.80. On the upperside, should the price pullback upwards, then only a clear breakout above 109.20 will mean we are continuing to the upperside with our next level at 109.80.
Trade Recommendations:
Sell the US Dollar towards 106.50.
Origin: FreshForex
