EURUSD Wave Analysis 11 January, 2021

• EURUSD reversed from resistance level 1.2300

• Likely to fall to 1.2100

EURUSD recently reversed down from the key resistance level 1.2300 (which has been reversing the price from the end of December) – stopping the earlier impulse waves 5 and (C).

The resistance area near the resistance level 1.2300 was strengthened by the upper daily Bollinger Band.

EURUSD is expected to fall further in the active impulse wave (1) toward the next support level 1.2100 (low of the minor correction (iv) from the start of December).