EURUSD Wave Analysis – 18 February, 2019

• EURUSD reversed from support area
• Further gains are likely

EURUSD recently reversed up from the support area lying between support levels 1.1280 and 1.1220 (which has been reversing the price from last August) – strengthened by the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer Doji – which started the active wave 2.

EURUSD is expected to rise further and re-test the next resistance level 1.1400 (target price for the completion of the active corrective wave 2).