EUR/USD reached sell target 1.1400
By: Dmitriy Chernovolov
- EUR/USD reached sell target 1.1400
- Next sell target - 1.1300
EUR/USD has been falling in the last few trading sessions inside the intermediate impulse wave (3) – which started earlier – when the pair reversed down with the daily Falling Star from the pivotal resistance level 1.1600. This Falling Star formed well outside of the upper daily Bollinger Band – which multiplied the strength of this bearish signal. The price earlier broke through the support level 1.1400 (previous sell target set for this currency pair).
EUR/USD is expected to fall further toward the next sell target at the support level 1.1300, standing close to the 38.2% Fibonacci correction level of the previous sharp upward impulse from the start of March.