EUR/USD reversed from strong resistance zone

EUR/USD reversed from strong resistance zone

  • EUR/USD reversed from strong resistance zone
  • Next sell target - 1.1900

EUR/USD recently reversed down – after the previous multiple failed attempts to break above the strong resistance zone lying between the resistance level 1.2100 (which stopped the previous sharp uptrend in the middle of September, as can be seen below) and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active intermediate impulse wave (3). EUR/USD is expected to fall toward the next sell target at the next support level 1.1900.

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