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 1.1000
• Likely to rise to 1.1150
EURUSD today broke above the key resistance level 1.1000 (which stopped the two previous waves (i) and a – in April and March respectively).
The breakout of the resistance level 1.1000 follows the earlier breakout of the 38.2% Fibonacci correction of the previous sharp downward impulse wave (1).
EURUSD is likely to rise further toward the next resistance level 1.1150 (top of the previous corrective wave (2) from March).
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