EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: +1/8 MM Level acted as resistance
2020-05-19 • Updated
We've got a pullback from +2/8 MM Level, so wave [v] of 3 may have been ended. So, there's a developing impulse in wave [i]. However, if a pullback from 5/8 MM Level happens, there'll be an opportunity to have a local upward correction.
+1/8 MM Level acted as resistance, so the price is declining in wave [a]. The main intraday target is 4/8 MM Level. Therefore, the low of wave (iv) of [v] is likely going to be broken soon.
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