Wave Analysis
Nothing much appears to be happening on this pair since Monday, we expected a possible momentum to the upper side but we’re still seeing the possibility that the Us dollar could stagnate below 112.175. On this chart, a sustained move above 112.175 will confirm a possible continuation of a bullish price rally towards 114.243 and could breakout much higher towards 118.501. On the flip side, should the price break and close below 104.608, then this will be a good place to consider a sell order.
Trade Recommendations:
Remain long towards 114.243.
Origin: FreshForex
