EUR/USD: extension in wave [iii]

EUR/USD: extension in wave [iii]


There's an opportunity to have an extension in wave [iii]. Previously, a zigzag in wave [ii] was formed. So, if a pullback from 6/8 MM Level happens in the coming hours, we're likely going to have another bullish rally.


We've got a developing zigzag in wave (ii), which hasn't been finished yet. The main intraday target is 6/8 MM Level, which could be a departure point for wave i of (iii).




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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