Euro price action against dollar has turned sideways, suggesting a breakout is coming soon. As wave 4 could be already done, the move could be upward. Either way, another leg down could be expected in wave 5.
The SP500 index has fallen to the 4k support identified a while ago and could break it. With waves A and B of (Y) completed, wave C could finalize the correction any time soon. Otherwise, an extended 5th lower down might be seen.
Natural Gas has dropped sharply down to $7 and looks impulsive, especially if it completes a 5-wave leg a tad lower. This could be a case where a simple shallow correction turned into a dip, as wave A would be converted to wave 1.
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Daily Elliott Waves Forecast: EURUSD, SPX500, NATGAS (10.05.22)
Euro price action against dollar has turned sideways, suggesting a breakout is coming soon. As wave 4 could be already done, the move could be upward. Either way, another leg down could be expected in wave 5.
The SP500 index has fallen to the 4k support identified a while ago and could break it. With waves A and B of (Y) completed, wave C could finalize the correction any time soon. Otherwise, an extended 5th lower down might be seen.
Natural Gas has dropped sharply down to $7 and looks impulsive, especially if it completes a 5-wave leg a tad lower. This could be a case where a simple shallow correction turned into a dip, as wave A would be converted to wave 1.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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