EURUSD Wave Analysis – 01 August, 2019

• EURUSD broke key support level 1.1120
• Further losses are likely

EURUSD recently broke sharply below the key support level 1.1120 – which has been reversing the price from the end of April – as can be seen below.

The breakout of the support level 1.1120 accelerated the active impulse wave 3 – which belongs to the medium-term impulse wave (3) from June.

EURUSD is expected to fall further and retest the next round support level 1.1000 (target price for the completion of the active impulse wave 3).