EUR/USD: buy target – 1.1500
By: Dmitriy Chernovolov
- EUR/USD approaching resistance level 1.1380
- Next buy target – 1.1500
EUR/USD continues to rise inside the (c)-wave of the minor ABC correction 2 from the start of this month. The active (c)-wave earlier reversed up from the support zone lying between the support level 1.1150 and the 38.2% Fibonacci correction of the previous sharp (a)-wave. The price today broke above the resistance level 1.13420, which stopped the aforementioned (a)-wave.
EUR/USD is currently approaching the resistance level 1.1380 (which stopped the previous intermediate ABC correction (2) in February). If the price breaks above 1.1380 – the pair can then rise to the next buy target at the strong resistance level 1.1500.