Wave Analysis
Since the previous day’s forecast, the US dollar attempted to break below the lower trendline but ended up closing above it. As long as the price remains above this trendline, we are looking for a possible buy position. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should breakout above the upper trendline with an ultimate target set around 106.525. This view will only be invalidated in case the price breaks and closes below 103.910. If this is the case, then a momentum towards 102.280 is expected.
Trade Recommendations:
Sell a break below 103.910 with an ultimate target at 102.605.
Origin: FreshForex
