Market Snapshots

EURUSD Wave Analysis – 9 September, 2020

EURUSD Wave Analysis – 9 September, 2020

• 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).

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