There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
EUR/USD: 8/8 MM Level going to act as resistance
The price is still rising, so bulls are likely going to test 8/8 MM Level in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a bearish wave (i). In this case, we should keep an eye on 6/8 MM Level as an intraday target.
We've just got a new local high. Previously, the price couldn't fixate under 6/8 MM Level. Therefore, wave v of (c) is likely going to be continued towards 8/8 MM Level, which could be a departure point for wave i of (i).
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.