Wave Analysis
As long as the price remains below the upper trendline, we expect further momentum to the lowerside and should break below 106.110. If you are on this chart, I recommend looking for long term sell positions with an ultimate target around 106.885. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should first break below the previous day’s lowest low before further move to the lowerside is seen. As it is now, we are waiting for a clear bounce from the upper trendline to pick a low risk sell position with an ultimate target around 105.885.
Trade Recommendations:
Waiting for a sell towards 105.885.
Origin: FreshForex
