Remain long towards 106.060. | 26 May 2020

Wave Analysis

The US Dollar continues to rally within the contracting wedge formation. As long as the price is held within the two trendline, we are going to be trading reversals, that is, we will be selling a bounce from the upper trendline and buy a bounce from the lower trendline, An break below the supportive trendline will mean we are continuing to the lowerside with an ultimate target around 106.065. And in case the price breaks and closes above 106.185, then we expect further momentum to the upper side towards 110.00. If this target is broken, then further momentum much higher is expected.

Trade Recommendations:

Remain long towards 106.060.