Wave Analysis
Yesterday, the US Dollar bounced off from the supportive trend line headed to the upper side and is still pretty much bullish. Following the test of the 52 Day Simple Moving Average, I expect a surge to the upper side and could break beyond the recent highest high towards 110.00. As it is now, the price may pullback towards the same trend line before we see further momentum to the upperside. This view can only be invalidated in case the price breaks and closes below the supportive trendline, if this is the case, then further momentum to the lower side is expected.
Trade Recommendations:
Remain long towards 108.250.
Origin: FreshForex
