EUR/USD reached buy target 1.1100

EUR/USD reached buy target 1.1100

  • EUR/USD reached buy target 1.1100
  • Next buy target - 1.1200

EUR/USD continues to rise after the earlier breakout of the resistance zone lying at the intersection of the resistance level 1.1100 (which was set as the buy target in out previous forecast for this currency pair) and the resistance trendline of the wide daily up channel from January. The breakout of this resistance zone accelerated the active minor impulse wave C.

EUR/USD is expected to rise further the next buy target at the resistance level 1.1200 (target price for the termination of the active intermediate ABC correction (2)).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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