EUR/USD: sell target - 1.0800
By: Dmitriy Chernovolov
- EUR/USD falls inside impulse waves 3 and (3)
- Next sell target - 1.0800
EUR/USD has been falling in the last trading sessions inside the minor impulse wave 3 – which started earlier – when the pair reversed down from the former support trendline from April (acting as resistance now after it was broken by the previous impulse wave 1). The active impulse wave 3 yesterday broke the next support trendline from April – which should strengthen the bearish pressure on this currency pair in the nearest time.
EUR/USD is likely to fall further inside the active impulse waves 3 and (3) toward the next support level 1.0800, which reversed previous intermediate impulse wave (1) in May.