EUR/USD: bearish impulse arrived

EUR/USD: bearish impulse arrived


We've got a pullback from 8/8 MM Level, so a double zigzag in wave [y] of 2 may have been formed. Therefore, we could have bearish wave (i) in the short term. In this case, we should keep an eye on 6/8 MM Level as an intraday target.


There's a downward impulse in wave ii, so bulls are likely going to deliver a local correction. However, if we see a pullback from 8/8 MM level, there'll be an opportunity to have another bearish impulse in wave iii of (i).




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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