• EURUSD reversed from support area
• Likely to rise further
EURUSD recently reversed up once again from the support area lying between the multi-month support level 1.1550 (which has been reversing the price from start of November) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star – which started the active minor impulse wave (iii).
EURUSD is likely to rise further and re-test the next resistance level 1.1830 (top of waves (a) and 4).