Wave Analysis
During the previous trading day, the impulsive wave (v) continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the Alligator indicator, we expect nothing but a possible momentum to the lower side and should break below 1.22570 towards 1.21510. But should the price breaks and closes above the upper trend line, then further momentum to the upper side is expected with an ultimate target around 1.25420.
Trade Recommendations:
Remain short towards 1.21510.
Origin: FreshForex
