Wave Analysis:
This pair is currently trading in an expanding wedge formation,during the previous trading days,the price rallied from the lower trendline at the impulsive wave cycle three towards the upper trendline at the corrective wave cycle four.Recently, the price bounced off from the upper trendline towards the lower side in continuation of the impulsive wave cycle five.As at now the price is rebounding towards the upper side,I expect it to continue upto 1.0525. However,should the price break below the lower trendline then I expect a strong bearish momentum,but as at now we are buyers from 1.0394 towards 1.0525.
Trade Recommendations:
We are buyers towards 1.0525.
Origin: FreshForex
