EUR/USD: sell targets - 1.0700 and 1.0800
By: Dmitriy Chernovolov
- EUR/USD falling inside minor B-wave
- Next sell targets - 1.0700 and 1.0800
EUR/USD continues to fall after the recent downward reversal from the resistance zone lying between the resistance level 1.100, the upper daily Bollinger Band and the 38.2% Fibonacci Correction of the previous sharp downward impulse wave from the end of August. The downward reversal from this resistance zone completed the previous B-wave of the active intermediate ABC correction (4) from the start of December.
EUR/USD is likely to fall further in the active minor B-wave toward the next sell target at the support level 1.0800 – the breakout of which can lead to further losses toward 1.0700.