EURUSD Wave Analysis 7 January 2025

2 days ago

- EURUSD reversed up from resistance zone
- Likely to fall to support level 1.0255

EURUSD currency pair recently reversed down from the resistance zone set between the resistance level 1.0435 (which has been steadily reversing the price from the end of December), 20-day moving average, 50% Fibonacci correction of the downward impulse from December.

The downward reversal from this resistance zone continues the active minor impulse wave 3 from the start of last month.

Given the clear daily downtrend, EURUSD currency pair can be expected to fall to the next support level 1.0255 (which reversed the price sharply at the start of January).