Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURUSD broke key resistance level 1.1500
• Likely to rise to 1.1650
EURUSD continues to rise steadily after the earlier breakout of the key resistance level 1.1500 (previous multi-month high from the middle of March).
The breakout of the resistance level 1.1500 accelerated the active impulse wave 3 from the end of June.
With the positive euro sentiment continuing to dominate the markets – EURUSD is likely to rise further toward the next resistance level 1.1650 (target for the completion of the active impulse wave 3).
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