Wave Analysis
Earlier today, the impulsive wave (E) rose above the upper trendline and is still above this trend line, while the price remains above this trendline, I expect nothing but a possible momentum to the upper side and should break beyond 1.24880. If the price breaks and closes above this level, then further momentum to the upper side is expected with an ultimate target around 1.25. This view is supported by the fact that the price is held above the alligator indicator, should the price again close below the upper trendline, then we may expect a momentum to the lower side.
Trade Recommendations:
Remain long with the impulsive wave (E) with an ultimate target around 1.24880.
Origin: FreshForex
