Wave Analysis
After failing to sustain the breakout above the upper trendline. the Us dollar is currently in an active down trend. As it is now, we are sellers. Basically we are expecting a possible breakout below the lower trendline to pick a possible long term sell position expecting the price to surge towards 108.775. On the flipside, if the price rebound from the lower trendline, then this will be a good place consider a possible long term buy position back to the upper trendline. If the upper trendline is violated again the second time, then a rally to the upperside is expected.
Trade Recommendations:
Hold onto a seller’s perspective towards the lower trendline.
Origin: FreshForex
