EURUSD Wave Analysis – 18 February, 2020

• EURUSD falling inside impulse waves 3 and (3)
• Likely to fall to 1.0770

EURUSD under bearish pressure after the earlier breakout of the key support level 1.0880 (which stopped the previous sharp downward impulse (1) in September).

The breakout of the key support level 1.0880 accelerated the active short-term impulse wave 3 of the medium-term impulse sequence (3) from December.

EURUSD is likely to fall further toward the next support level 1.0770 (target price for the completion of the active impulse wave 3).