EUR/USD: 4/8 MM Level acted as support

EUR/USD: 4/8 MM Level acted as support


The price is still trading above 6/8 MM Level, so wave [iii] is likely going to move on. The main intraday target is +2/8 MM Level, which could be a departure point for wave [iv].


4/8 MM Level has acted as support, so there's a leading diagonal in wave [1]. Considering that wave [2] is likely ended, there's an opportunity to have a bullish impulse in wave [3] of iii of (c).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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