Wave Analysis
Instead of continuing to the lower side, the Us Dollar bounced off from the level 107.300 and is currently heading to the upper side, we expect yesterday’s bounce from 107.300 to have marked and end to the corrective wave (b), that the current move to the upper side is the continuation of the impulsive wave (c) and could see price break above 108.250 towards 108.825. This view can only be invalidated in case the price breaks and closes below 107.300, if this is the case, then a possible momentum towards 105.00 is expected.
Trade Recommendations:
Expect further correction towards 108.825.
Origin: FreshForex
