EURUSD can be expected to rise further to the next resistance level 1.1830 (former resistance from the end of February and the target price for the completion of the active intermediate impulse wave (C)).
- EURUSD broke resistance zone
- Likely to rise to resistance level 1.1830
EURUSD currency pair recently broke the resistance zone between the resistance level 1.1630 (which has been reversing the price from the start of March, as can be seen from the daily EURUSD chart below) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of February. The breakout of this resistance zone accelerated the active impulse wave 1, which belongs to intermediate impulse wave (C) of the primary upward ABC correction 2 from the start of March.
Given the strength of the bearish US dollar sentiment affecting this currency pair, EURUSD can be expected to rise further to the next resistance level 1.1830 (former resistance from the end of February and the target price for the completion of the active intermediate impulse wave (C)).
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
By admin