Market Snapshots

EURUSD Wave Analysis – 17 June, 2020

EURUSD Wave Analysis – 17 June, 2020

• EURUSD falling inside impulse wave (3)

• Likely to fall to 1.1150

EURUSD recently reversed down from the resistance zone lying between the long-term resistance level 1.1400 (which has been reversing the price from June of 2019) and the upper daily Bollinger Band.

The downward reversal from this the resistance area started the active medium-term impulse wave (3).

EURUSD is likely to fall further toward the next support level 1.1150 (former high of the sharp upward correction A from March).

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