EURUSD currency pair can be expected to fall further toward the next support level 1.0910, target price for the commotion of the active wave iv.
– EURUSD broke support zone
– Likely to fall to support level 1.0910
EURUSD currency pair recently broke the support zone located at the intersection of the key support level 1.1000 (former resistance from the start of August, as you can see from the daily EURUSD chart below), 50% Fibonacci correction of the upward impulse from the end of July and the support trendline of the daily up channel from the start of August. The breakout of this support zone accelerated the active short-term impulse wave iv, which is a part of the impulse wave 3 of the sharp upward impulse sequence (C) from the end of April.
Given the predominantly bullish US dollar sentiment that can be seen across the FX markets today, EURUSD currency pair can be expected to fall further toward the next support level 1.0910, target price for the commotion of the active wave iv.
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