EUR/USD: bearish "High Wave"

EUR/USD: bearish "High Wave"

0803eurusdH4 (1).png

There's a bearish "High Wave", which has been confirmed. So, the market is likely going to test the 55 Moving Average, which could be a departure point for another upward price movement.

0803eurusdH1 (1).png

The upper "Window" has acted as resistance, so the price is declining. The main intraday target is the 144 Moving Average. If a pullback from this line happens little later on, there'll be a moment for a bullish price movement.




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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