FBS - Analytics

    FBS

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    EUR/USD reached sell target 1.1400

    • EUR/USD reached sell target 1.1400
    • Next sell target - 1.1300

    EUR/USD has been falling in the last few trading sessions inside the intermediate impulse wave (3) – which started earlier – when the pair reversed down with the daily Falling Star from the pivotal resistance level 1.1600. This Falling Star formed well outside of the upper daily Bollinger Band – which multiplied the strength of this bearish signal. The price earlier broke through the support level 1.1400 (previous sell target set for this currency pair).

    EUR/USD is expected to fall further toward the next sell target at the support level 1.1300, standing close to the 38.2% Fibonacci correction level of the previous sharp upward impulse from the start of March.

     

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