Wait for a correction to 109.99-109.76 to buy USD | 25 February 2019

Technical observation

For several days now USD has been declining steadily towards a supportive zone 109.99-109.76, currently it is rallying above the zone and I expect a decline to it followed by a bounce within it for bullish momentum of price. You can wait for the correction to 109.99-109.76 and a rejection within it to buy USD with your take profit at 112.63 and stop loss at 108.89.If price penetrates above 112.63, wait for a correction to it confirming further bullish price rally before you continue long with USD.As long as USD is contained above the zone 109.99-109.76, only long positions look ideal and may be recommended on the daily chart above.

Trade recommendation

Wait for a correction to 109.99-109.76 to buy USD