Wave Analysis
Just as previously anticipated, the US Dollar failed to sustain the breakout above the upper trendline. Instead, the pair pulled back to the lowerside and is now below the supportive trendline. While the price remains below the upper trendine, we expect nothing but a possible momentum to the lowerside and should breakout below 104.410 towards 103.910 or even lower. If you are looking at this chart now, keep looking for long term sell positions. As at now, buy positions looks risky and may not be recommended.
Trade Recommendations:
Remain short towards the lower trendline.
Origin: FreshForex
