Market Snapshots

EURUSD Wave Analysis 24 September, 2020

EURUSD Wave Analysis 24 September, 2020

• EURUSD broke support zone

• Likely to fall to 1.1560

EURUSD recently broke the support area located between the support level 1.1755 (which stopped the previous waves 4, (1) and 1) and the 38.2% Fibonacci retracement of the previous upward price move from July.

The breakout of this support zone accelerated the two active nested downward impulse sequences 3 and (3).

EURUSD is expected to fall further toward the next support level 1.1560 (projected price for the termination of the active impulse wave 3).

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