- EURUSD reversed from the resistance level 1.1775
- Likely to fall to support levels 1.1555 and 1.1460
EURUSD recently reversed down from the resistance zone between the resistance level 1.1775 (which stopped the previous impulse wave 3 at the start of July, as can be seen below) and the upper daily Bollinger Band.
This resistance zone was further strengthened by the lower trendline of the recently broken up channel from May (acting as resistance after it was broken earlier).
Given the strongly bullish US dollar sentiment, EURUSD can be expected to fall to the next support levels 1.1555 and 1.1460 – the low of waves 4 and iv.
- Likely to fall to support levels 1.1555 and 1.1460
EURUSD recently reversed down from the resistance zone between the resistance level 1.1775 (which stopped the previous impulse wave 3 at the start of July, as can be seen below) and the upper daily Bollinger Band.
This resistance zone was further strengthened by the lower trendline of the recently broken up channel from May (acting as resistance after it was broken earlier).
Given the strongly bullish US dollar sentiment, EURUSD can be expected to fall to the next support levels 1.1555 and 1.1460 – the low of waves 4 and iv.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.