EUR/USD reversed from support area
- EUR/USD rising inside minor correction (ii)
- Next buy target – 1.1150
EUR/USD recently reversed up sharply from the support area located between the strong support level 1.0950 (which also previously reversed the earlier minor impulse wave (i) in June), the lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp intermediate ABC correction (2) from last December, as can be seen below. The upward reversal from this support area accelerated the active minor correction (ii) from June.
EUR/USD is likely to rise further to the next buy target at the resistance level 1.1150 (which reversed the pair with the daily Japanese candlesticks reversal pattern Shooting Star in June).