EUR/USD: pullback from 7/8 MM Level

EUR/USD: pullback from 7/8 MM Level

Image20170911115002001.png

There's a pullback from 7/8 MM Level, so wave [i] may have been formed. In this case, we could have a bearish correction in the short term. The main target for wave [ii] is 6/8 MM Level, which could be a departure point for wave [iii].

Image20170911115002002.png

8/8 MM Level has acted as resistance, so we've got a bearish impulse in wave (a). Also, there's a pullback from 5/8 MM Level, so the price is rising. If a pullback from 7/8 MM Level happens, bears are likely going to deliver wave (c) of [ii].

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