EUR/USD: 6/8 MM Level as important resistance

EUR/USD: 6/8 MM Level as important resistance

Image20170515151207001.png

6/8 MM Level is likely going to act as resistance once again. If we see another pullback from this line, wave (i) is going to be continued towards 4/8 MM Level. The critical level for this wave count is the high of wave (c) of [y] of 2.

Image20170515151207002.png

There's a possible developing zigzag in wave ii. So, bulls are going to test 8/8 MM Level in the coming hours. If a pullback from this level arrives, we could have wave [B] of ii. The main target for this correction is 6/8 MM Level.

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