Market Snapshots

EURUSD Wave Analysis – 12 November, 2019

EURUSD Wave Analysis – 12 November, 2019
  • EURUSD broke the support area
  • Likely to fall to 1.1000

EURUSD recently broke the support area lying between the support level 1.1065 (low of wave (i)) and the 38.2% Fibonacci correction of the previous upward correction (ii) from September.

The breakout of this support area continues the active impulse wave 3 of the medium term impulse sequence (3) from June.

EURUSD is expected to continue to fall and retest the next support level 1.1000 (low of the previous wave (b) and the target for the completion of the active impulse wave (i)).

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