Forex Trading

EURUSD Wave Analysis – Action Forex

  • EURUSD broke support level 1.0730
  • Likely to fall to support level 1.0570

EURUSD currency pair fall after the earlier breakout of the key support level 1.0730 (which has been reversing the price from December) intersecting with the 61.8% Fibonacci correction of the ABC correction (2) from October.

The breakout of the support level 1.0730 accelerated the iii-wave of the active impulse waves 3 and (3) .

Given the continuing bullish USD sentiment, EURUSD can be expected to fall further to the next support level 1.0570.

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