Wave Analysis:
Yesterday, instead of a rebound from the lower trendline, the US Dollar rallied to the lowerside and even took out of stoploss. The chart above is the previous day’s chart, now the price is below the lower tredline, If the price pulls back up and break above the same trendline and into the shape formation, then we will be expecting a possible continuation to the uppperside towards the upper trendline. As it is right now, we are sellers towards 107. and may extend much lower. The idea now is to wait for a rejection from the trendline we just broke below, then pick a possible long term sell position towards 107.9.
Trade Recommendations:
We’re now sellers as long as the price remains below 109.830 towards 108.820.
Origin: FreshForex
