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EURUSD Wave Analysis
(MENAFN- FxPro)
- EURUSD reversed from support area
- Further gains are likely
EURUSD recently reversed up from the support area lying between support levels 1.1280 and 1.1220 (which has been reversing the price from last August) – strengthened by the lower daily Bollinger Band.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer Doji – which started the active wave 2.
EURUSD is expected to rise further and re-test the next resistance level 1.1400 (target price for the completion of the active corrective wave 2).
Source: FxPro
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