EUR/USD: pullback from 2/8 MM Level

EUR/USD: pullback from 2/8 MM Level


We've got a pullback from 4/8 MM Level, so wave 2 may have been formed. Also, wave (i) is about to end, so if we have a pullback from 3/8 MM Level, there'll be a green light for wave (ii).


There's a pullback from 2/8 MM Level, so wave iv of (i) may have been ended. Therefore, bears are likely going to deliver wave v of (i). The main intraday target is 0/8 MM Level, which could be a departure point for an upward correction.




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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