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EURUSD Wave Analysis – 23 April, 2019

  • EURUSD falling inside impulse wave 3
  • Further losses are likely

EURUSD has been falling in the last few trading sessions inside the short-term impulse wave 3  which started earlier from the resistance area lying between the resistance level 1.1300, 100-day moving average and the upper daily Bollinger Band.

This resistance area was further strengthened by the 100-day moving average and by the 50% Fibonacci correction of the previous downward impulse 1.

EURUSD is expected to fall further and re-test the next support level 1.1188 (low of the previous waves (1) and 1).

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Source: FxPro


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