Wave Analysis
After bouncing off from the upper trendline, the us dollar continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. While price continue to remains below this trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below the level 104.200 towards 103.00 or even lower. A break above the upper trendline will push price much highee.
Trade Recommendations:
Sell a bounce from the upper trendline towards 104.200.
Origin: FreshForex
