EURUSD Wave Analysis – 07 August, 2020
August 07, 2020 @ 17:23 +03:00
• EURUSD reversed from powerful resistance level 1,1900
• Likely to fall to 1,1700
EURUSD recently reversed down from the powerful resistance level 1,1900 (which stopped the previous sharp impulse wave 1 in June, as can be seen below).
The downward reversal from the resistance level 1,1900 will create the daily Japanese candlesticks reversal pattern Evening Star – if the price closes this week near the current levels.
EURUSD is likely to fall further toward the next support level 1,1700 (low of the previous short-term correction 2).