Wave Analysis
As long as the price remains within the contracting wedge formation, we are waiting for a possible bounce from the upper trend line to pick a possible long term sell position with an ultimate target around 1.11280. And should the price break and close above the upper trend line, then further momentum to the upper side is expected with an ultimate target around 1.14040. On its way to the upper side, the levels to look for include 1.13430 and 1.13735. If these levels are broken, then further momentum to the upper side is expected.
Trade Recommendations:
Wait for a sell from the upper trend line.
Origin: FreshForex
