Wave Analysis
During the previous trading day, our pending sell order was triggered around 110.255 but later stopped when the price spiked above 110.356. This is a significant move and a good sign that buyers are in control. Following this break we expect further bullish move and should break above 114.00 or even higher. We are only waiting for a possible correction to buy the last impulsive wave (v) with an ultimate target around 118.00. As it on the daily and on the 4 hours charts, I only recommend looking for low risk buy positions towards 118.00 and could head much higher. ON the flip side, a close below 110.255 may attract a sell but this is highly unlikely.
Trade Recommendations:
Remain long with an ultimate target around 118.00.
Origin: FreshForex
