Wave Analysis:
Instead of continuing to the upperside as previously forecasted, the cable pulled back to the lowerside retracing back to the lowerside, we’re waiting for a buy from the supportive zone 1.24536-1.2440. As long as the price remains above this zone, we’re waiting for a bounce from this zone to pick a long term buy towards 1.25389. This view can only be invalidated in case the price breaks below 1.25389, then this will be an ideal place to look for long term sell orders towards 1.24050.
Trade Recommendations:
Wait for a bounce from 1.24538 to pick a buy towards 1.25369.
Origin: FreshForex
