Technical analysis

EURUSD Wave Analysis 18 May, 2021

• EURUSD broke resistance level 1.2180

• Likely to rise to resistance level 1.2240

EURUSD recently broke the key resistance level 1.2180 (which stopped the previous impulse wave 1 at the start of May).

The breakout of the resistance level 1.2180 continues the active impulse waves 3 and (3).

EURUSD is likely to rise further toward the next resistance level 1.2240 (top of the previous wave (B) from February) – from where the price is likely to correct down.

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