EUR/USD: second pullback from 8/8 MM Level in a row

EUR/USD: second pullback from 8/8 MM Level in a row

2019-11-11 • Updated

Image20170525135854001.png

We've got the second pullback from 8/8 MM Level in a row. So, wave [y] of 2 may have been finished. In this case, bears are likely going to deliver wave (i), which means we should keep an eye on 6/8 MM Level as an intraday target.

Image20170525135854002.png

There's a bearish impulse, which could be wave i of (i). 8/8 MM Level has acted as resistance twice. Moreover, wave ii seems to be ended, so we're likely going to see a decline in wave iii of (i) in the direction of 5/8 MM Level.

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