EUR/USD falling inside impulse waves 3 and (3)
- EUR/USD falling inside impulse waves 3 and (3)
- Next sell target - 1.1130
EUR/USD recently reversed down from the resistance level 1.1220 (former support level and the sell target set in our previous forecast for this currency pair, acting as resistance now after it was broken by the active minor impulse wave 3). The active impulse wave 3 belongs to the intermediate downward impulse wave (3), which started earlier this month – when the pair reversed down sharply the daily Falling Star from the long-term resistance level 1.1600, as can be seen below.
EUR/USD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.1130 (which reversed the price earlier this week).