EUR/USD: bulls going to deliver wave 5

EUR/USD: bulls going to deliver wave 5

Image20170925081430001.png

There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should keep an eye on 8/8 MM Level as an intraday target.

Image20170925081430002.png

2/8 MM Level acted as support, so the triangle may have been ended. Therefore, we're likely going to have an upward impulse in wave [i] in the coming hours. If another pullback from 5/8 MM Level arrives later on, there'll be an opportunity to have a local bearish correction.

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