EURUSD Technical Analysis Report 30 November, 2020

  • EURUSD broke resistance level 1.1880
  • Likely to rise to 1.2020

EURUSD continues to rise after the earlier breakouts of the resistance level 1.1880 (which has been steadily reversing the price from the start of September as can be seen from the daily EURUSD chart below). The breakout of resistance level 1.1880 accelerated the active short-term impulse wave 3 – which belongs to the long-term unwrap impulse sequence (3) from the start of November.

Given the clear daily uptrend and the rising dollar pessimism as the result of the latest reports showing the decreasing infections rates across Europe – EURUSD is likely rise further in the active impulse waves 3 and (3) toward the next resistance level 1.2020 (which stopped the price with the daily Shooting Star at the start of August).

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