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 reversed from support level 1.1750
• Likely to rise to resistance level 1.1900
EURUSD recently reversed up with the daily Morning Star from the key support level 1.1750 (which stopped the earlier wave 2 in November).
The pair earlier broke the daily down channel from February – which accelerated the active short-term ABC correction (ii).
EURUSD index is likely to rise further toward the next resistance level 1.1900 (target for the completion of the active correction (ii)).
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