Wait for a buy signal towards the upper trendline. | 30 October 2020

Wave Analysis

The US Dollar continues to remains above the lower trendline. As long as the price is not able to clearly breakout below the supportive trendline, we are on the sidelines, we are expecting a possible a clear buy signal from this level to pick a low risk buy position with our target set along the upper trendline. And in case the price breaks and closes above this level, then we will be looking for long term buy position with an ultimate target set around 106.050. On the lowerside, a break below the lower trendline will push the price lower towards 103.895.

Trade Recommendations:

Wait for a buy signal towards the upper trendline.