During the previous trading day, the Us Dollar bounced off from the support line 111.86, headed long and is still showing signs of a possible momentum to the upper side. During this intraday, as long as 111.86 protects the lower side, we'll long the impulsive wave (c) with our target intact at 115.00. A breakout below 111.86 will push the price to the lower side but should not go beyond 109.38. Expect a similar wave count in CHFJPY, EURJPY, AUDJPY and CADJPY. These pairs have a strong positive correlation of up to +82% and will move in the same direction during this intraday.
Trade Recommendations:
Expect a possible bullish price rally towards 115.00
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