EUR/USD rising inside minor (b)-wave

EUR/USD rising inside minor (b)-wave

  • EUR/USD rising inside minor (b)-wave
  • Next buy target - 85.70

EUR/USD continues to rise inside the minor (b)-wave which started earlier – when the pair reversed up from the combined support zone lying between the support level 1.1700 and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of July. EUR/USD is expected to rise further to next buy target at the next resistance level 85.70 (high of the impulse wave (i) and the target price calculated for the completion of the active wave (b)).

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EUR/USD: "V-Top" pattern

The 34 MA has acted as support, so the price is consolidating. Meanwhile, the pair is likely going to test the closest resistance.

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