EUR/USD: wave (ii) going to move on

EUR/USD: wave (ii) going to move on

EUR/USD: wave (ii) going to move on

Wave (ii) has turned out to be deeper. However, the bearish wave count is still on the table. Therefore, if a pullback from 4/8 MM Level happens, there’ll be an opportunity to have wave (iii).

EUR/USD: wave (ii) going to move on

As you can see on the one-hour chart, we’ve got an expanded wedge pattern in wave a of (ii). Also, there’s a zigzag in wave b, which has been finished on 3/8 MM Level. In this case a bullish impulse in wave c of (ii) is likely going to move on.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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