LeoPrime Daily Market Analysis

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EURUSD falling inside weekly impulse wave 3; Likely to fall to 1.06000

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.

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