EURUSD: ⬇️ Sell
– EURUSD broke daily down channel
– Likely to fall to support level 1.1100
EURUSD currency pair recently broke the support trendline of the daily down channel from April, after the earlier downward reversal from the resistance level 1.1345 (former strong support from the end of June, which stopped wave 4 at the end of September).
The breakout of this down channel accelerated the active impulse wave 5 of the intermediate impulse wave (3) from the start of September.
Given the strong daily downtrend and the strongly bearish euro sentiment seen today, EURUSD currency pair can be expected to fall further toward the next support level 1.1100 – target price for the completion of the active impulse wave (3).