EUR/USD: sell target - 1.0700
By: Dmitriy Chernovolov
- EUR/USD reached sell targets 1.0900 and 1.0800
- Next sell target - 1.0700
EUR/USD recently fell sharply – breaking through the support zone lying between the support levels 1.0900 and 1.0800, both of which were set in our previous forecast as the sell targets for this currency pair. The breakout of these support levels is likely to strengthen the bearish pressure on this currency pair in the coming trading sessions.
EUR/USD is expected to fall further in the accelerated impulse wave 3 (which is a part of the intermediate corrective (C)-wave from the end of August) toward the next sell target at the support level 1.0700. Sell stop-loss can be placed inside the resistance zone lying between the resistance levels 1.0900 and 1.0800.