Wave Analysis
Yesterday, we expected a p[possible momentum to the lowerside and even a breakout below the supportive trendline. Unfortunately, the price moved slightly to the lowerside and is now below 23.6% fib level. While the price remains below this level, we expect nothing but a possible momentum to the lowerside. This bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break beyond 38.2% fib level towards 50.0% fib level A bounce from 38.2% fib level will be a good place to pick a buy from.
Trade Recommendations:
Expect further momentum to the lowerside.
Origin: FreshForex
