Wave Analysis
After an intensive momentum to the upperside, the US Dollar is currently slowing down. As long as the price is above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should break above 114.14 but should not go higher than 118.00. If these targets are broken, then further momentum towards 118.00 is expected. According to the daily chart, we’re still looking for an upward position with our first target at 114.00 and the next at 118.00.
Trade Recommendations:
We’re long towards 118.00
Origin: FreshForex
