EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: another bearish impulse
Wave 2 may have been formed like a zigzag, so there's a bearish impulse in wave (i). In this case, we're likely going to have another impulse in wave (iii) in the short term. The main intraday target is 2/8 MM Level.
There's a pullback from 3/8 MM Level, so we've got a downward impulse in wave i. Wave ii is about to end, which means bears are likely going to deliver an impulse in wave iii of (iii) in the coming hours.
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.