Elliott waves analysis – We are sellers.


Wave Analysis:

During the previous forecast, we had anticipated that the price would bounce back from 1.0222 towards the lower trendline around 0.9720 in continuation of the impulsive wave cycle five. Right now, the price is still rallying around the upper trendline, I still expect a further bearish momentum. However, should the price break above the upper trendline, then we would be looking for buy positions around 1.0315 with the first ideal target at 1.0570.If you are looking at this pair now, pick a sell from 1.0222 towards 0.9720.

Trade Recommendations:

We are sellers.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.