GBP/NZD reversed from resistance zone Next sell target - 1…
EUR/USD reversed from key resistance level 1.1660
- EUR/USD reversed from key resistance level 1.1660
- Next sell target - 1.1500
EUR/USD continues to fall inside the minor impulse wave 3 which started recently – when the pair reversed down from the key resistance level 1.1660 (former powerful support level which stopped the earlier waves 4 and (1), as can be seen from the daily EUR/USD chart below) intersecting with the 100-day moving average. The active impulse wave 3 belongs to the intermediate impulse wave (3) from October. EUR/USD is expected to fall further to the next sell target at the next support level 1.1500.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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