EURUSD Wave Analysis – 28 May, 2020

• EURUSD broke key resistance level 1.1000

• Likely to rise to 1.1150

EURUSD today broke above the key resistance level 1.1000 (which stopped the two previous waves (i) and a – in April and March respectively).

The breakout of the resistance level 1.1000 follows the earlier breakout of the 38.2% Fibonacci correction of the previous sharp downward impulse wave (1).

EURUSD is likely to rise further toward the next resistance level 1.1150 (top of the previous corrective wave (2) from March).