LeoPrime Daily Market Analysis

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EURUSD broke key support level 1.10000; Likely to fall to 1.09150

EURUSD recently broke the key support level 1.10000 (which has been reversing the price from the middle of October). This support level stopped the earlier waves (iv), (a), B and (i). This price level is acting as the strong resistance after it was broken. Given the moderate bullish US dollar sentient seen across the markets today and the clear downtrend visible on the daily EURUSD charts – EURUSD is likely to extend the losses toward the next support level 1.09150 (target for the completion of the active impulse wave 3).

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