EUR/USD: sell target - 1.0600
By: Dmitriy Chernovolov
- EUR/USD reached sell target 1.0700
- Next sell target - 1.0600
EUR/USD continues to fall after the recent breakout of the support level 1.0700, which was set as the sell target in our previous forecast for this currency pair. The price earlier reversed down sharply from the resistance zone lying between the resistance level 1.0800 (the lower boundary of the resistance zone located between price levels 1.0800 and 1.0880). The downward reversal from this resistance zone started the active impulse wave (v) of the 3rd minor impulse wave 3 from October.
EUR/USD is likely to fall further toward the next sell target at the next pivotal support level 1.0600 (which reversed the previous sharp wave (ii) in April).