Technical analysis

EURUSD Wave Analysis 13 April, 2021

EURUSD Wave Analysis 13 April, 2021

• EURUSD broke resistance level 1.1900

• Likely to reach resistance level 1.2000

EURUSD recently broke the minor multi-candle resistance level 1.1900 (top of the previous impulse wave (a)) intersecting with the 38.2% Fibonacci correction of the previous sharp downward impulse wave 1.

The breakout of the resistance level 1.1900 should accelerate the active minor ABC correction 2 from the end of March.

EURUSD is likely to rise further toward the next resistance level 1.2000 (former resistance from the middle of March – which stopped earlier waves (b) and ii).

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