Wave Analysis
According to the monthly chart, the US Dollar is currently heading to the upperside. Few months ago, we have seen price break above the upper trendline and is still very much bullish. As long as the price remains above the trendline on the monthly chart, I recommend looking for long term buy positions expecting the price to continue much higher with the next ideal target set at 116.90. If the price pulls back to the lowerside and ends up below the lower same trendline, then this will be the best place to consider a sell position towards 103.90 and may extend much lower.
Trade Recommendations:
We’re buyers towards 116.90.
Origin: FreshForex
