EURUSD Wave Analysis – 26 October, 2022

• EURUSD broke key resistance level 0.9985

• Likely to rise to resistance level 1.0165

EURUSD recently broke the key resistance level 0.9985 (top of the previous short-term wave (a) from the start of October).

The breakout of the resistance level 0.9985 was preceded by the breakout of the extended down channel from February – which accelerated the active short-term impulse wave (c).

EURUSD can be expected to rise further toward the next resistance level 1.0165 (monthly high from September and the target for the completion of the active wave (c)).