EUR/USD: pullback from 7/8 MM Level

EUR/USD: pullback from 7/8 MM Level

Image20170724114745001.png

There's a pullback from 7/8 MM Level, so the price is declining in wave (iv). However, if 6/8 MM Level acts as support afterwards, there'll be an opportunity to have another bullish impulse in wave (v) of [v].

Image20170724114745002.png

As we can see on the one-hour chart, wave (iv) is probably taking the form of a flat pattern. The main intraday target is 6/8 MM Level. If we see a pullback from this level, bulls are likely going to deliver wave (v). In this case, we should keep in mind 8/8 MM Level as the next target.

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