Wave Analysis:
Previously, the price bounced off from the corrective wave cycle two and rallied towards the lower trendline at the impulsive wave cycle three, it then rebounded towards the upper trendline at the corrective wave cycle four. As at now, the price is on the upper trendline I expect it to bounce back towards 1.1995 in continuation of the impulsive wave cycle five. On the flipside, should the price break above the upper trendline, then we would be bullish but as of now we are sellers from 1.2169 towards 1.0995.
Trade Recommendations:
We are short.
Origin: FreshForex
