Technical analysis

EURTRY Analysis 06 November, 2020

EURTRY Analysis 06 November, 2020

• EURTRY broke round resistance level 10.00

• Likely to rise to 10.50

EURTRY continues to rise inside the accelerated impulse waves (iii) and 5 – which belong to the extended multi-month upward impulse sequence (5) from August.

The pair previously broke out of the sharp up channel from July and formed a steeper upward channel from October – indicating the acceleration of the uptrend.

Having recently broken the round resistance level 10.00 – EURTRY is likely to rise further toward the next resistance level 10.50 (target price for the completion of wave 5).

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