EURUSD: ⬆️ Buy

– EURUSD broke resistance zone

– Likely to rise to resistance level 1.1720

EURUSD currency pair recently broke the resistance zone between the resistance trendline of the daily Down Channel from August and the resistance level 1.1645 (which stopped the previous impulse wave i).

The breakout of this Down Channel accelerated the active short-term impulse wave iii from the end fo November.

Given the multi-month daily uptrend and the bearish US dollar sentiment seen today, EURUSD currency pair can be expected to rise further to the next resistance level 1.1720 (former top of wave B from October and the target price for the completion of the active wave iii).