EURUSD Wave Analysis – 2 June, 2020
June 02, 2020 @ 17:49 +03:00
• 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)).