EURUSD Wave Analysis – 9 September, 2020
September 09, 2020 @ 17:28 +03:00
• EURUSD reversed from support level 1.1750
• Likely to rise to 1.1960
EURUSD today reversed up from the support level 1.1750 (which low of the previous minor correction 4 from last month) – coinciding with the lower daily Bollinger band and the 38.2% Fibonacci retracement of the previous upward impulse from June.
The upward reversal from the support level 1.1750 stopped the previous short-term impulse wave 1 from the end of August.
EURUSD is likely to rise further toward the next resistance level 1.1960 (which stopped the previous impulse waves 3 and 5 last month).