EUR/USD: 8/8 MM Level could send price lower

EUR/USD: 8/8 MM Level could send price lower

Image20170522143509001.png

The price reached 8/8 MM Level, so wave (c) of [y] may have been ended, which means there's an opportunity to have bearish wave (i). In this case, we should keep in mind 6/8 MM Level as the next intraday target.

Image20170522143509002.png

As you can see on the one-hour chart, wave v of (c) achieved 8/8 MM Level, which could be a departure point for wave (i). Therefore, bears are likely going to test 6/8 MM Level in the coming hours.

eur

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gbp

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