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

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


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.


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/USD: "V-Top" pattern

The pair is likely going to test the nearest support at 1.2313. If a pullback from this level happens little later on...



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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