Technical analysis

EURUSD Wave Analysis 6 April, 2021

• EURUSD reversed from support level 1.1750

• Likely to rise to resistance level 1.1900

EURUSD recently reversed up with the daily Morning Star from the key support level 1.1750 (which stopped the earlier wave 2 in November).

The pair earlier broke the daily down channel from February – which accelerated the active short-term ABC correction (ii).

EURUSD index is likely to rise further toward the next resistance level 1.1900 (target for the completion of the active correction (ii)).

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