Wave Analysis
The corrective wave (iv) continues to the upper side but should not go beyond 108.795. As long as the price remains below this level, we are waiting for a possible rise much higher towards 109.300. This pair should bounce from 109.300 to pick a long term sell order. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break above 107.280 towards 106.775. A break and close below 106.775 will mean we are continuing to the lower side towards 105.00.
Trade Recommendations:
Waiting for a possible long term sell orders towards 106.775.
Origin: FreshForex
