EUR/USD: local bullish 'Engulfing'
The market is likely going to test the next resistance at 1.1836, which could be a starting point for a bearish 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.
Igor Tolstykh
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