Bullish pin bar candle on the daily chart | 29 يونيو 2017

Wave Analysis

During the previous trading day, US dollar opened at 112.32, went as low as111.82 and as high as 112.41 but ended up closing at 112.29 just a few pips below its opening price. The previous day's candle is a perfect bullish pin bar closing above a key level 112.10. We expect a possible extension of the impulsive wave (iii) and a correction, that is wave (iv), to buy the impulsive wave (v) towards 114.91. Expect a similar wave count in CHFJPY and AUDJPY and CADJPY. These pairs have a strong positive correlation and will move in the same direction.

Trade Recommendations:

Expect a possible bullish price rally with an ideal target at 114.91.