Categories: Technical analysis

EURUSD Wave Analysis – 7 January, 2022

• EURUSD reversed from key support level 1.1265

• Likely to rise to resistance level 1.1380

EURUSD currency pair recently reversed up from the key support level 1.1265 (lower boundary of the sideways price range from the middle of December).

The upward reversal from the support level 1.1265 started the active short-term impulse waves C.

Given the rising euro bullishness seen today – EURUSD currency pair can be expected to rise further toward the next resistance level 1.1380 (upper boundary of the aforementioned sideways price range).

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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The FxPro Tech Analysis Team
Tags: EURUSD

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