Technical analysis

EURUSD Wave Analysis – 10 June, 2022

EURUSD Wave Analysis – 10 June, 2022

• EURUSD broke support level 1.0640
• Likely to fall to support level 1.0460

EURUSD continues recently broke the key support level 1.0640 (former top of wave (iv) from May, which stopped the previous waves (b) and (i)).

The breakout of the support level 1.0640 accelerated the active short-term downward impulse wave (iii) – which belongs to wave 5 from last month.

Given the clear daily downtrend, EURUSD can be expected to fall further toward the next support level 1.0460 (target price for the completion of the active impulse wave (i))

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