LeoPrime Daily Market Analysis

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EURUSD under bearish pressure ; Likely to fall to support level 1.02000.

EURUSD currency pair under the strong bearish pressure after the pair broke the key support level 1.03600 (which has been reversing the price from the start of May). The breakout of the support 1.03600 accelerated the active impulse wave 3, which belongs to the higher downward impulse wave (5) from the end of May. Given the strong daily downtrend and widespread euro bearish sentiment seen across the FX markets today, EURUSD currency pair can be expected to fall further toward the next support level 1.02000 (target for the completion of the active impulse wave 3).

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