Wave Analysis
After pulling back towards 110.836, the US Dollar could not close below it, instead, the pair bounced from this line and is now heading to the upperside. We expect this bounce to have marked an end to the corrective wave (ii), that the current bullish price rally is the continuation of the impulsive wave (iii) to the upperside and should first break above 114.191, before we continue long with the last impulsive wave (v). A close below 110.835, will mean we’re continuing down towards 108.471.
Trade Recommendations:
Rebuy the US Dollar from 110.835 towards 114.191.
Origin: FreshForex
