There’s a possible “Triangle” in wave 4 on the four-hour chart. Yesterday wave [c] was ended on 3/8 Murrey Math Level (P=250), so bears are likely going to deliver wave [d] shortly. The main intraday target is 2/8 MM Level.
As we can see on the one-hour chart, the price has found a lodgement under 6/8 Murrey Math Level (P=200). Also, we’ve got wave [c], which was ended in a form of a zigzag. Therefore, the market is likely going to decline towards 3/8 MM Level during the day.
EUR/USD, H4
![EUR/USD: wave [d] of 4 going to reach 3/8 MM Level](https://fxbazooka.com/img/articles/10040/Image20160812093854001.png)
EUR/USD, H1
![EUR/USD: wave [d] of 4 going to reach 3/8 MM Level](https://fxbazooka.com/img/articles/10040/Image20160812093854002.png)
Origin: FX BAZOOKA
