Technical analysis

EURUSD Wave Analysis – 01 February 2023


• EURUSD reversed from support level 1.0800

• Likely to rise to resistance level 1.09260

EURUSD currency pair recently reversed up from the support level 1.0800 (low of the previous minor correction (ii)), intersecting with the 20-day moving average.

The upward reversal from the support level 1.0800 continues the C-wave of the active intermediate ABC correction (2).

EURUSD currency pair can be expected to rise further toward the next resistance level 1.09260 (top of the previous minor impulse wave (i)).

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