EURUSD Wave Analysis

  • EURUSD under bearish pressure
  • Likely to fall to support level 1.0700

EURUSD currency pair under the bearish pressure after the earlier breakout of the support level 1.0800 (which stopped the previous wave (b) at the end of May).

The breakout of the support level 1.0800 accelerated the active short-term impulse wave 3 from the start of June.

Given the strongly bearish euro sentiment and the continuation of the bullish USD sentiment, EURUSD currency pair be expected to fall further to the next support level 1.0700.

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