Ktafx

October 02, 2020 at 03:31PM

• EURUSD reversed from resistance level 1.1755

• Likely to fall to 1.1620

EURUSD today reversed down from the pivotal resistance level 1.1755 (former strong support from August and September) strengthened by 38.2% Fibonacci correction of the previous downward impulse wave (1).

The downward reversal from the resistance level 1.1755 started the active medium-term downward impulse wave (3).

EURUSD is likely to fall further toward the next support level 1.1620 (low of the previous sharp downward impulse wave (1)).

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From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurusd-wave-analysis-2-october-2020-20201002/
Selected by fonecable.com

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