EUR/USD: another bearish impulse is about to start
There’s a possible wave D, which is taking place on the four-hours chart. Therefore, bears are likely going to deliver wave (y) of [y] in the short term, so we should keep an eye on 1/8 Murrey Math Level as an intraday target. If a pullback from this line happens, there’ll be an opportunity to have an upward correction.
As we can see on the one-hour chart, wave (c) of [y] is likely going to form a zigzag. So, if wave b ends and the price finds a lodgement under 3/8 MM Level, then wave c of (c) is going to start. The main target here is -2/8 MM Level.