EURUSD Wave Analysis – 15 August, 2022

• EURUSD reversed from resistance level 1.0370

• Likely to fall to support level 1.0100

EURUSD currency pair recently reversed down from the resistance level 1.0370 (former monthly low from May and June) standing near the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from June.

The downward reversal from the resistance level 1.0370 started the active short-term impulse wave (iii).

Given the clear daily downtrend, EURUSD can be expected to fall further toward the next support level 1.0100 (low of wave (b) from July).