- EURUSD reversed from resistance area
- Further losses are likely
EURUSD recently reversed down from the resistance area lying between the resistance level 1.1420 (top of the previous wave 2), upper daily Bollinger Band and the resistance trendline from September.
The downward reversal from this resistance area started the active impulse wave (3).
EURUSD is expected to fall further and re-test the next support level 1.1200 (low of the previous impulse wave 5 from the start of March).