EURUSD Wave Analysis – 03 September, 2019

• EURUSD broke support area
• Further losses are likely

EURUSD recently broke the support area lying between the round support level 1.1000 and the support trendline of the daily down channel from January – which encloses the active impulse sequence ③.

The breakout of this support area accelerated the active impulse waves (3) and 3.

EURUSD is expected to fall further and retest the next support level 1.0900 (intersecting with the support trendline of the daily down channel from June).