EUR/USD: wave [i] about to end

EUR/USD: wave [i] about to end


Wave 4 may have been formed, cause there's a pullback from 0/8 MM Level. Also, a bullish impulse in wave [i] is about to end, so we could have a downward correction in the short term. The main intraday target for wave [ii] is 1/8 MM Level, which could be a departure point for wave [iii] of 5.


There's a developing impulse in wave [i]. It's likely that wave (v) is going to end on 4/8 MM Level. Therefore, there's an opportunity to have wave [ii] during the day. In this case, we should keep an eye on 2/8 MM Level as an intraday bearish target.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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