Technical analysis

EUR50 Wave Analysis – 4 March, 2022

EUR50 Wave Analysis – 4 March, 2022

• EUR50 broke support level 3750.00
• Likely to fall to support level 3550.00

EUR50 index under the bearish pressure after recently breaking the support zone lying between the key support level 3750.00 (low of wave (i)) and the support trend line of the daily down channel from January.

The breakout of this support zone accelerated the active minor impulse wave 3, which belongs to the sharp impulse wave (C) from February.

EUR50 index can be expected to fall further toward the next support level 3550.00 (target price for the completion of the active impulse wave 3).

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