EUR/USD: Developing Ending Diagonal

EUR/USD: Developing Ending Diagonal


There's a developing ending diagonal, which could be wave 5. It's likely that wave [iii] is about to end, so we're likely going to have a bearish correction towards 2/8 MM Level.


An impulse in wave (c) of [iii] hasn't been finished yet. Moreover, if the price fixates above 5/8 MM Level, there'll be an opportunity to have wave v of (c). In this case, we should keep an eye on 7/8 MM Level as the next bullish 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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