Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: pullback from 6/8 MM Level
2022-05-30 • Updated
It's likely that the current ending diagonal pattern has been formed. Therefore, if the price fixates under 5/8 MM Level, bears are going to deliver an impulse in wave (i). The main intraday target is 3/8 MM Level.
There's a pullback from 6/8 MM Level. So, if the pair comes back to the upper side of the diagonal, there'll be an opportunity to have wave i of (i). In this case, we should keep in mind 4/8 MM Level as the nearest bearish target.
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