EURUSD Wave Analysis – 22 August, 2022

• EURUSD broke below the parity 1.0000

• Likely to fall to support level 0.9800

EURUSD today broke strongly below the parity 1.0000 (which stopped the previous sharp downward impulse wave 1 from the start of June).

The breakout of the parity 1.0000 should accelerate the active short-term downward impulse wave 3.

Given the overriding daily downtrend, EURUSD can be expected to fall further toward the next support level 0.9800 (low of the earlier wave (ii) from the start of August).