EUR50 Wave Analysis – 11 January, 2023

• EUR50 broke resistance level 4000.00

• Likely to rise resistance level 4200.00

EUR50 index recently broke the key resistance level 4000.00 (former strong support from January and February) – which has been reversing the price from March.

The breakout of the resistance level 4000.00 accelerated the active intermediate impulse wave (3) from the end of December.

EUR50 index can be expected to rise further toward the next resistance level 4200.00 (forecast price for the completion of the active impulse sequence (3)).