Elliott waves analysis – We are buyers towards 136.95.


Wave Analysis:

The US Dollar is currently trading on an uptrend, the price bounced off from the impulsive wave cycle three towards the lower side at the corrective wave cycle four. Right now the price is on the lower trendline, I expect a bullish momentum towards 136.95 or even much higher in continuation of the impulsive wave cycle five. On the flipside, should the price break below the lower trendline, then 135.95 would be a good place to pick a sell from with the first ideal target at 135.15.

Trade Recommendations:

We are buyers towards 136.95.

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