EUR/USD: developing triangle in wave 4

EUR/USD: developing triangle in wave 4

Image20170922102604001.png

There's a pullback from 7/8 MM Level, so we've got a developing triangle in wave 4. It's likely that the price is going to test the lower side of this pattern. If a pullback from this level happens, there'll be an opportunity to have an upward impulse in wave 5.

Image20170922102604002.png

The price is consolidating between the 5/8 and 2/8 MM Levels. Wave [d] of 4 is about to end, so we could have wave [e] of 4 in the short term. If another pullback from 3/8 MM Level arrives later on, bulls will try to deliver wave [i].

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