EUR/USD: sell target - 1.0900
By: Dmitriy Chernovolov
- EUR/USD reversed from resistance zone
- Next sell target - 1.0900
EUR/USD continues to fall inside the minor impulse wave 3 – which started earlier - when the pair reversed down from the resistance zone lying between the resistance level 1.1050, 38.2% Fibonacci correction of the previous sharp minor impulse wave 1 from last month and the former support trendline of the recently broken daily up channel from last December (acting as resistance now after it was broken).
EUR/USD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.0900. Sell stop-loss can be placed above the resistance level 1.1050.