EUR50 Wave Analysis – 4 February 2025

– EUR50 rising inside minor impulse wave iii

– Likely to rise to resistance level 5315.00

EUR50 index is rising inside the minor impulse wave iii, which started earlier from the support zone located between the support level 5150.00 and the 38.2% Fibonacci correction of the upward impulse from December.

This from the support zone was further strengthened by the upper trendline of the recently broken up-channel from November, acting as support after it was broken.

Given the clear daily uptrend, the EUR50 index can be expected to rise to the next resistance level 5315.00 (top of the previous impulse wave iii).