EUR/USD: bulls going to test 7/8 MM Level

EUR/USD: bulls going to test 7/8 MM Level

Image20170516145500001.png

As we can see on the Daily chart, wave 1 has been ended on 1/8 MM Level. Therefore, if a pullback from 7/8 MM Levels happens, there'll be a sign that wave 2 may have finished. If so, we should keep an eye on 4/8 MM Level as the next bearish target.

Image20170516145500002.png

There's a developing double zigzag in wave 2. It seems like a bullish impulse in wave (c) of [y] is going to end in the coming hours. The main intraday target is 7/8 MM Level, which could be a departure point for wave (i).

eur

Similar

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera