Wave Analysis
Just as previously anticipated, the US Dollar bounced off from the upper trendline and is currently heading to the lowerside. As long as the price remains below this trendline, expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of an impulsive wave count and could see the price break below the lower trendline. If this is the case, then further momentum to the lowerside is expected with the next ideal target set around 109.730. On the flipside, in case the price breaks and closes above the upper trendline, then further momentum to the upperside is expected with the next ideal target set at 110.00 and could push the price much higher with the next ideal target set at 111.67.
Trade Recommendations:
We’re sellers towards the lower trendline.
Origin: FreshForex
