NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/USD: 7/8 MM Level acted as resistance
We've got a new high, so wave 5 may have been started. At the same time, wave 4 turned out to be a triangle pattern, so there's a bullish impulse in wave [i] of 5. 7/8 MM Level acted as resistance, which means we could have a local bearish correction in the short term. Nevertheless, bulls are likely going to deliver wave [iii] of 5 afterwards.
Wave (v) of [i] has been ended on 8/8 MM Level, so it's time for a correction. The nearest target for wave [ii] is 6/8 MM Level, which could be a departure point for another bullish rally.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.