Technical analysis

EURUSD Wave Analysis 15 March, 2021

EURUSD Wave Analysis 15 March, 2021

• EURUSD reversed from resistance level 1.2000

• Likely to fall to support level 1.1850

EURUSD currency pair recently reversed down from the key resistance level 1.2000, intersecting with the daily up channel from 2020 and the 38.2% Fibonacci correction of the previous impulse C.

The downward reversal form the resistance level 1.2000 stopped the earlier intermediate impulse wave (3).

EURUSD can be expected to fall further to the next support level 1.1850 (which stopped the previous impulse wave C earlier this month).

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