EURUSD: ⬇️ Sell
- EURUSD broke support zone
- Likely to fall to support level 1.1600
EURUSD currency pair recently broke the support zone between the key support level 1.1755 (former resistance from October and December), support trendline of the daily up channel from May and the 61.8% Fibonacci correction of the upward impulse from January.
The breakout of this support zone should accelerate the active downward impulse wave 3 of the intermediate impulse wave (1) from the end of January.
Given the strongly bullish USD sentiment seen across the currency markets on the safe-haven inflows, EURUSD currency pair can then be expected to fall to the next support level 1.1600.
, support trendline of the daily up channel from May and the 61.8% Fibonacci correction of the upward impulse from January.){kind=link}