Wave Analysis
Few days ago, the Corrective wave (iv) bounced off from the resistance trendline headed to the lowerside but is currently pulling back to the same trendline, while this is true, that the price is held below this trendline, we are waiting for a low risk sell order in case of a second bounce, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 105.885 or even lower. This view can only be invalidated in case the price breaks and closes above the upper trendline, if this is the case, then further momentum to the upperside is expected.
Trade Recommendations:
Waiting for second sell from the upper trendline.
Origin: FreshForex
