Technical analysis

EURUSD Wave Analysis – 8 September, 2021

• EURUSD reversed from resistance area

• Likely to test support level 1.1750

EURUSD currency pair recently reversed down from the resistance area set between the pivotal resistance level 1.19 (which has been reversing the price from July) and the 38.2% Fibonacci correction of the downward impulse (C) from May.

The downward reversal from this resistance area started the active corrective wave (2).

EURUSD currency pair can be expected to fall further toward the next support level 1.1750 (target for the completion of the active corrective wave (2)).

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