EURUSD Wave Analysis 2 October, 2020

• EURUSD reversed from resistance level 1.1755

• Likely to fall to 1.1620

EURUSD today reversed down from the pivotal resistance level 1.1755 (former strong support from August and September) strengthened by 38.2% Fibonacci correction of the previous downward impulse wave (1).

The downward reversal from the resistance level 1.1755 started the active medium-term downward impulse wave (3).

EURUSD is likely to fall further toward the next support level 1.1620 (low of the previous sharp downward impulse wave (1)).