EUR/USD: developing ending diagonal

EUR/USD: developing ending diagonal

Image20170713161308001.png

There's a developing ending diagonal in wave [v] of C. It seems like wave (iv) has been formed, so bulls are likely going to deliver wave (v) of [v] in the coming hours. In this case, we could have a new high soon.

Image20170713161309001.png

As we can see on the one-hour chart, wave (iv) took the form of a double zigzag. Therefore, the market is likely going to form another zigzag in wave (v) of [v], so 8/8 MM Level could be broken.

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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