EURUSD Wave Analysis – 21 November, 2022

• EURUSD under bearish pressure

• Likely to fall to support level 1.02

EURUSD under the strong bearish pressure after the pair reversed down from the pivotal resistance level 1.037 (former monthly low from May and June, and the monthly high from August) – standing near the upper weekly Bollinger Band.

The downward reversal from the resistance level 1.037 started wave (ii) of the active C-wave from the start of November.

EURUSD can be expected to fall further toward the next support level 1.02 (former monthly high from September).

Source: Fxpro

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