EURUSD Wave Analysis – 07 February, 2020

• EURUSD broke key support level 1.0990
• Likely to fall to 1.0920

EURUSD recently broke the key support level 1.0990 (which has been reversing the price from October) and the 61,8% Fibonacci correction of the pervious upward ABC correction (2) .

The breakout of the support level 1.0990 accelerated the active short-term impulse waves 3 and (iii).

EURUSD is likely to fall further toward the next support level 1.0920 (target price for the completion of the active impulse wave 3).