Technical analysis

EURUSD Wave Analysis 3 December, 2020

EURUSD Wave Analysis 3 December, 2020

• EURUSD rising inside impulse waves 3 and (C)

• Likely to rise to 1.2300

EURUSD continues to rise inside the sharp upward impulse wave 3 – which previously broke above the powerful resistance level 1.200.

The breakout of the resistance level 1.200 accelerated both of the active nested impulse waves 3 and (C).

Given the clear daily uptrend – EURUSD is expected to rise further toward the next resistance level 1.2300 (target price for the completion of the active impulse wave 1).

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