Categories: Technical analysis

EURUSD Wave Analysis – 22 July, 2020

• 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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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