EURUSD Wave Analysis 15 January 2025

- EURUSD reversed from key support level 1.0225
- Likely to rise to resistance level 1.0425

EURUSD currency pair recently reversed up with the daily Japanese candlesticks reversal pattern Morning Star (with the daily Hammer in its middle) from the key support level 1.0225, which stopped the previous impulse wave i at the end of December.

The upward reversal from the support level 1.0225 started the active short-term correction iv, which belongs to the downward impulse wave 3 from last month.

Given the bullish divergence on the daily RSI indicator, EURUSD currency pair can be expected to rise to the next resistance level 1.0425, which stopped the previous waves ii and (ii).