EUR/USD: pullback from 7/8 MM Level

EUR/USD: pullback from 7/8 MM Level


There's a quite interesting moment on the Daily chart, cause we've got a pullback from 7/8 MM Level. However, the market is likely going to test this level once again. If the price couldn't fixate above 7/8 MM Level, bears will have a green light to reach 6/8 MM Level shortly.


Wave [v] of C has turned out to be an ending diagonal pattern. It seems like wave (iii) has just arrived, so bears are likely going to deliver wave (iv) in the short term. Meanwhile, there's an opportunity to have wave (v) of [v] of C afterwards.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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