EUR/USD: 'High Wave' points to decline
The market is likely going to test the 34 Moving Average. If a pullback from this line happens next, bulls will probably try to reach...
EUR/USD reversed from support area
- EUR/USD reversed from support area
- Next buy target - 1.1900
EUR/USD continues to rise after the earlier upward reversal from the support area lying between the key support level 1.1700 (which also stopped the previous minor correction (a)), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of July. The upward reversal from this support area stopped the earlier minor impulse wave c. EUR/USD is expected to rise to next buy target at the next resistance level 1.1900 (top of impulse 3).
Dmitry Chernovolov
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