- EURUSD broke daily down channel
- Likely to rise to resistance level 1.1370
EURUSD currency pair continues to rise inside the minor impulse wave (3), which started earlier from the strong support level 1.1130 intersecting with the support trendline of the daily down channel from April.
The support level 1.1130 was strengthened by the 50% Fibonacci correction of the sharp upward impulse 5 from March.
Given the clear daily uptrend, EURUSD currency pair can be expected to rise to the next resistance level 1.1370 (which stopped the previous correction B).
- Likely to rise to resistance level 1.1370
EURUSD currency pair continues to rise inside the minor impulse wave (3), which started earlier from the strong support level 1.1130 intersecting with the support trendline of the daily down channel from April.
The support level 1.1130 was strengthened by the 50% Fibonacci correction of the sharp upward impulse 5 from March.
Given the clear daily uptrend, EURUSD currency pair can be expected to rise to the next resistance level 1.1370 (which stopped the previous correction B).
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.