NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/USD falling inside minor impulse wave (c)
- EUR/USD falling inside minor impulse wave (c)
- Next sell target -1.1660
EUR/USD continues to fall inside the minor impulse wave (c), which belongs to the ABC correction 4 from the start of this month. The price earlier broke the support zone lying between the support level 1.1900 and the support trendline of the sharp daily up channel - inside which the price has been rising from the start of September. EUR/USD is expected to fall to the next sell target at the next support level 1.1660 (low of the correction (iv)).
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.