EURUSD Wave Analysis – 03 April, 2019

EURUSD reversed from support area

Further gains are likely

EURUSD recently reversed up with the daily Hammer from the support area lying between the strong support level 1.1200 (which has been reversing the price from the middle of November) and lower daily Bollinger Band.

The upward reversal from this support area started the active short-term ABC correction 2.

With the oversold daily Stochastic indicator EURUSD is expected to rise further and re-test the next resistance level 1.1300.

Source: FxPro