EURUSD Wave Analysis – 27 January, 2020

• EURUSD broke support area
• Likely to fall to 1.100

EURUSD under bearish pressure after the earlier breakout of the support area lying between the support level 1.1060 (which reversed the price twice in December) and the 50% Fibonacci correction of the previous upward ABC correction (2) from September.

The breakout of this support area accelerated the active impulse waves 3 and (3).

EURUSD is likely to fall further toward the next support level 1.100 (former double bottom from November).