EUR/USD: developing correction

EUR/USD: developing correction


Wave [iii] may have been formed, so there's a developing correction. The main target for wave [iv] is 8/8 MM Level, which could be a departure point for wave [v] of 3.


It's likely that wave [iv] is taking the form of a double three pattern. If so, wave (x) is going to test 2/8 MM Level. However, we could have another bearish zigzag in wave (y) of [iv] afterwards.




EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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