EURUSD Wave Analysis – 3 February 2025

- EURUSD reversed from pivotal support level 1.0225
- Likely to rise to resistance level 1.0400

EURUSD currency pair recently reversed up from the major pivotal support level 1.0225, which has been steadily reversing the pair from the end of last year, as can be seen from the daily EURUSD chart below.

The support zone near the support level 1.0225 was further strengthened by the lower daily Bollinger Band.

Given the strength of the support level 1.0225 and the bearish US dollar sentiment seen today, the EURUSD currency pair can be expected to rise to the next resistance level 1.0400.