EUR/USD: pullback from 7/8 MM Level

EUR/USD: pullback from 7/8 MM Level


Bulls have gone through 7/8 MM Level, but the price came back to this line. So, if we see the market below 7/8 in the coming hours, there'll be an opportunity to have an impulse in wave (i). In this case, we should keep an eye on 6/8 MM Level as an intraday bearish target.


There's a pullback from 7/8 MM Level, so wave (c) of [y] may have been formed. Also, we've got a downward impulse in wave i, so bears are likely going to deliver another impulse in wave iii of (i) soon.




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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