EURUSD Wave Analysis – 22 July, 2020

• EURUSD broke key resistance level 1.1500

• Likely to rise to 1.1650

EURUSD continues to rise steadily after the earlier breakout of the key resistance level 1.1500 (previous multi-month high from the middle of March).

The breakout of the resistance level 1.1500 accelerated the active impulse wave 3 from the end of June.

With the positive euro sentiment continuing to dominate the markets – EURUSD is likely to rise further toward the next resistance level 1.1650 (target for the completion of the active impulse wave 3).