Wave Analysis
At this point, a sustained move below the wedge which was broken yesterday will be a good confirmation that we are continuing to the lower side with an ultimate target around 105.00. On this chart, we are waiting for a clear breakout below 107.020 to confirm that we are continuing to the lower side with the impulsive wave (v) with an ultimate target around 105.00. On this chart, only sell positions looks ideal and can safely be recommended, but a break and a close above 108.785 may mean that buyers are back in control.
Trade Recommendations:
Sell a break below the previous week’s lowest low.
Origin: FreshForex
