EURUSD continues to fall inside the sharp weekly downward impulse wave 3, which started recently from the major resistance area lying between the long-term resistance level 1.14000 (which has been reversing the price from the star of 2019) and the upper weekly Bollinger Band. Given the strength of the active impulse wave 3 and the rising bullish US dollar sentiment seen across the markets today – EURUSD is likely to fall further toward the next support level 1.07750 (low of the previous weekly Morning Star) – the breakout of which can lead to further losses toward the support level 1.06000.
