EURUSD Wave Analysis – 20 May 2025

EURUSD: ⬆️ Buy

– EURUSD broke daily down channel

– Likely to rise to resistance level 1.1370

EURUSD currency pair continues to rise inside the minor impulse wave (3), which started earlier from the strong support level 1.1130 intersecting with the support trendline of the daily down channel from April.

The support level 1.1130 was strengthened by the 50% Fibonacci correction of the sharp upward impulse 5 from March.

Given the clear daily uptrend, EURUSD currency pair can be expected to rise to the next resistance level 1.1370 (which stopped the previous correction B).

Source: https://fxpro.news