EURUSD Wave Analysis – 23 July, 2019

• EURUSD broke key support level 1.1200
• Further losses are likely

EURUSD today broke below the key support level 1.1200 – which has been steadily reversing the pair from the start of June.

The breakout of this support level should accelerate the active short-term impulse wave 3- which belongs to the impulse wave (3) from the end of last month.

EURUSD is expected to fall further and retest the next support level 1.1120 (low of the previous waves 3 and (1) from April and May).