Wave Analysis
Instead of continuing to the lower side, the US Dollar corrected itself to the upperside but could not break above the immediate trendline. As we mentioned during the previous day’s forecast. As long as the price remains below this trendline, 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 could see the price rally massively to the lowerside towards 106.50. A clear break and a close above 108.90 will mean we are continuing to the upperside.
Trade Recommendations:
Wait for a low risk sell order.
Origin: FreshForex
