EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish wave (iv) about to start
2019-11-11 • Updated
The price is testing 7/8 MM Level, which previously has acted as a resistance. So, wave (iii) is likely going to end soon. If the market finds a lodgment under 7/8 MM Level later on, there’ll be an opportunity to have a bearish correction.
As we can see on the one-hour chart, wave (iii) is taking form of a double zigzag. In this case, wave [C] of y is likely going to end soon. Therefore, we could have wave a or w in the short term, so we should keep an eye on 5/8 MM Level as an intraday bearish target.
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