Wave Analysis:
This pair has been trading within the upper and the lower trendline for a while now, recently the price rebounded from the lower trendline at the impulsive wave cycle three towards the upper side at the corrective wave cycle four. Right now the price is rallying around the upper trendline, I expect a bearish momentum from 1.1830 towards 1.1705 in continuation of the impulsive wave cycle five. On the flipside should the price break above the upper trendline then 1.1865 would be a good place to pick a buy from.
Trade Recommendations:
We are sellers.
Origin: FreshForex
