Market Snapshots

EURUSD Wave Analysis – 2 June, 2020

EURUSD Wave Analysis – 2 June, 2020

• EURUSD broke resistance zone

• Likely to rise to 1.1300

EURUSD recently broke above the resistance zone lying between the resistance level 1.1150 (top of the previous correction from the end of March) and the 61.8% Fibonacci correction of the previous sharp downward impulse (1).

The breakout of this resistance zone is aligned with the active short-term impulse wave C which belongs to the ABC wave (2) from the middle of March.

EURUSD is expected to rise further toward the next resistance level 1.1300 (likely price for the termination of the active ABC correction (2)).

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