LeoPrime Daily Market Analysis

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EURUSD reversed from support level 1.03600 ; Likely to rise to resistance level 1.06250.

EURUSD currency pair recently reversed up from the key support level 1.03600 (which stopped the earlier sharp downtrend in the middle of May) and the lower daily Bollinger Band. The upward reversal from the support level 1.03600 started the active minor correction 4, which belongs to the higher-order impulse wave (5) from last month. Given the strength of the support level 1.03600 and the general euro optimism, EURUSD currency pair can be expected to rise further toward the next resistance level 1.06250 (former support from the start of June).

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