Wave Analysis
The US Dollar is currently trading with an increasing bearish bias momentum. As long as the price remains below the Envelopes trend indicator, and also the Bars of MACD below 0.00, we expect nothing but a possible steep decline towards 106.55. The idea here is to wait for a possible correction towards 109.55, or a bounce from the upper envelopes to pick a short term short position towards 106.55. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should first break below last week’s lowest low, before a move further to 100.00 is seen.
Trade Recommendations:
Wait
Origin: FreshForex
