EUR/USD: leading diagonal in wave (a)

EUR/USD: leading diagonal in wave (a)


Wave [ii] is still underway, so we should keep an eye on 3/8 MM level as the next bearish target. If a pullback from this level happens little later on, there'll be an opportunity to have an impulse in wave [iii].


There's a possible leading diagonal in wave (a). In this case, we could have wave (b) during the day. Nevertheless, bears are likely going to deliver wave (c) of [ii] afterwards.




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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