EUR/USD: bears ready for wave (iv)

EUR/USD: bears ready for wave (iv)

EUR/USD: bears ready for wave (iv)

Wave (iii) has been ended on 7/8 MM Level, so there’s time for a correction. Therefore, the market is likely going to decline in wave (iv) shortly. The main intraday target is 4/8 MM Level, which could be a departure point for wave (c) of [c] of 2.

EUR/USD: bears ready for wave (iv)

We’ve got a double zigzag in wave (iii) and a lot of pullbacks from 7/8 MM Level. In this case, bears are likely going to deliver a downward wave a or w in the coming hours.




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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