EUR/USD reached buy target 1.1900

EUR/USD reached buy target 1.1900

  • EUR/USD reached buy target 1.1900
  • Next buy target - 1.2100

EUR/USD continues to rise inside the minor impulse wave 5, which earlier broke above the pivotal resistance level 1.1900 (which was set as the buy target in our earlier forecast for this currency pair). The breakout of the resistance level 1.1900 accelerated the active impulse waves 5 and (iii). EUR/USD is expected to rise to next buy target at the next resistance level 1.2100 (target price for the completion of the active impulse wave 5, intersecting with the resistance trendline of the daily up channel from March).




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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