Elliott waves analysis – We’re expecting a rebound from 138.229 to pick a sell position towards 133.700

the US Dollar continues to rally to the upperside but is still below the level 138.229. This is a key level and while the price remains below it, we are waiting for a rebound from it to pick a possible long term sell position towards 133.730 to pick a possible long term sell position. On the otherside, should the price break and close above 138.228, then further momentum to the upperside is expected with the next ideal target set around 142.100 and may breakout much higher.