Wave Analysis
After bouncing off of the lower trendline, the US dollar continued slightly to the upperside but is yet to hit our target set along the upper trendline. If the price pulls back to the blue line of the indicator we will be looking for a possible long term buy positions. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 105.420 towards 105.750. However, in case the price breaks below the lower trendline, then we will be looking for long term sell positions towards 103.285.
Trade Recommendations:
Look for long term buy positions towards the upper trendline.
Origin: FreshForex
