Categories: Technical analysis

EURUSD Wave Analysis 3 December, 2020

• EURUSD rising inside impulse waves 3 and (C)

• Likely to rise to 1.2300

EURUSD continues to rise inside the sharp upward impulse wave 3 – which previously broke above the powerful resistance level 1.200.

The breakout of the resistance level 1.200 accelerated both of the active nested impulse waves 3 and (C).

Given the clear daily uptrend – EURUSD is expected to rise further toward the next resistance level 1.2300 (target price for the completion of the active impulse wave 1).

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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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