EUR/USD: bulls going to deliver wave [iii]

EUR/USD: bulls going to deliver wave [iii]


There's a zigzag in wave 4, so an upward impulse in wave [i] has been formed. In this case, we could have a correction, which could be wave [ii]. Nevertheless, bulls are likely going to deliver wave [iii] afterwards.


Wave (v) of [i] may have been ended, cause there's a pullback from 5/8 MM Level. Wave [ii] is likely going to take the form of a zigzag, so we should keep an eye on 2/8 MM Level, which could be a departure point for wave (i) of [iii].




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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