EUR/USD: pullback from 7/8 MM Level

EUR/USD: pullback from 7/8 MM Level


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].


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.



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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