Elliott waves analysis – We are buyers.


Wave Analysis:

The US Dollar is currently trading on an uptrend, recently the price bounced off from the upper trendline at the impulsive wave cycle three towards the lower side at the corrective wave cycle four. As at now the price is on the lower trendline, I expect a rebound towards the upper side around 140.45 in continuation of the impulsive wave cycle five. If you are currently looking at this pair right now, pick a buy from 138.01 towards 140.45.However,should the price break below the lower trendline clearly, then the bears will be in control.

Trade Recommendations:

We are buyers.

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