Wave Analysis:
This pair is currently trading in an expanding wedge formation, the price bounced off from the impulsive wave cycle three towards the lower side at the corrective wave cycle four, during the previous trading days. As at now, the price is on the lower trendline, I expect a further bullish momentum towards 132.20 in continuation of the impulsive wave cycle five . On the flipside should the price break below the lower trendline, then 129.50 would be a good place to pick a sell from with the first ideal target at 128.15.
Trade Recommendations:
We are long.
Origin: FreshForex
