Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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