EUR/USD: wave (iii) nearly over

EUR/USD: wave (iii) nearly over

The pair is still consolidating under 7/8 MM Level. Therefore, there’s an opportunity to have a new local high in the short term. Anyway, wave (iii) is likely going to end soon, which means we could have wave (iv) later on.

As we can see on the one-hour chart, wave (iii) is taking form of a double zigzag. Also, we’ve got a possible triangle in wave [B], so bulls are likely going to deliver wave [C] of y of (iii) during the day. At the same time, there’s a chance to have wave a or w afterwards.




EUR/USD: euro hung on Tenkan-Kijun

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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