NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/USD: developing "Flag" pattern
The price is consolidating between the levels 1.1695 - 1.1582. Also, there's a developing "Flag" pattern, so the market is likely going to reach the nearest resistance at 1.1724 - 1.1729. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1634 - 1.1615.
There's a consolidating, which is taking place between the 55 & 89 Moving Averages. Moreover, we've got a "V-Top" pattern, so bears are likely going to test the 34 Moving Average soon. If a pullback from this line arrives little later on, bulls will probably try to reach the next resistance at 1.1695 - 1.1724.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.