Technical analysis

EURUSD Wave Analysis 7 May, 2021

• EURUSD testing resistance level 1.2145

• Likely to rise to resistance level 1.2240

EURUSD continues to rise strongly and is currently testing the resistance level 1.2145 (which reversed the previous impulse wave (1) In April)).

The pair is currently moving inside the impulse wave (3) – which started earlier from the round support level 1.2000.

If pair closes above the resistance level 1.2145 – EURUSD will then rise to the next resistance level 1.2240 (monthly high from February).

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