EURUSD Wave Analysis

  • EURUSD broke daily down channel
  • Likely to rise to resistance level 1.1045

EURUSD currency pair recently broke the resistance trendline of the daily down channel from the middle of July (which enclosed the previous short-term ABC correction ii).

The breakout of this down channel should accelerate the active short-term impulse wave iii of the higher impulse waves 3 and (3).

Given the clear daily uptrend, EURUSD currency pair can be expected to rise further toward the next resistance level 1.1045 (top of the previous correction b).

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