EUR/USD: developing "Ending Diagonal"

EUR/USD: developing "Ending Diagonal"


There's a developing ending diagonal in wave 5, so we're likely going to have a zigzag in wave [iii] in the short term. The main intraday target is +2/8 MM Level.


The price has been rising since a pullback from 1/8 MM Level happens. It's likely that wave [4] ended, so we could have another bullish impulse in wave [5] of iii in the coming hours. In this case, we should keep an eye on 7/8 MM Level as the next target.




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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