- 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).