Wave Analysis
During the previous trading week, the corrective three wave cycle extended even lower than expected and even went below 108.64. As long as this is true, that the price is below 108.64, we expect nothing but a possible momentum to the lower side, as it is on the daily chart attached, we are waiting for the corrective wave (b) to end so that we sell the last impulsive wave (c) to the lower side towards 104.77. Conservative traders should have pending orders fixed at 108.54, with stop losses above 109.70 and take profit at 104.66
Trade Recommendations:
Place a pending sell limit order at 108.64.
Origin: FreshForex
