EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: bearish correction just around the corner
Wave (iii) is going to end soon. If a pullback from the upper side of the current ending diagonal happens, there’ll be time for correction. The main target for wave (iv) is 5/8 MM Level, which could be a departure point for another bullish wave.
As we can see on the one-hour chart, there’s a triangle in wave [B], so the price is rising in wave [C]. At the same time, wave a or w is likely going to start in the short term. In this case, we should keep an eye on 6/8 MM Level as an intraday target.
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.