EUR/USD: another pullback from 0/8 MM Level

EUR/USD: another pullback from 0/8 MM Level


There's another pullback from 0/8 MM Level, so wave 4 may have been formed. Also, we've got a possible ending diagonal in wave [c] of 4. In this case, bulls are likely going to deliver an impulse in wave [i]. The main intraday target is 2/8 MM Level.


-1/8 MM Level has acted as support, so we've got an upward impulse in wave (i). Moreover, wave (ii) is likely ended, so there's an opportunity to have another bullish impulse in wave (iii) of [iii] during the day.




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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