Elliott waves analysis – buy US Dollar above 111.080.


Wave Analysis

On the daily charts, there are only three key level to check for trades 108.396, 111.080 and 114.360. If the price can rebound from these lines, then these will be the best places to look for long term trades, At the moment on the daily, the US Dollar is approaching the middle level 111.080, we’re keenly waiting for a breakout above this level to look for a long term long position towards 114.360. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side with an ultimate target at 114.360.

Trade Recommendations:

Conservative traders can wait and buy US Dollar above 111.080.

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