Euro saw a short-term rejection at $1.0750 against the dollar for now and ut still has a little room to scoop another 50 pips to $1.0800. But crossing into wave one’s territory would change the whole main count. Is wave (4) completed yet or are we in for another surprise?
The SP500 index has traded in consolidation as expected when diagonal form. Another short-term leg down to lower lows would confirm the pattern and offer a better upside opportunity. But we need to be wary of the length of the alleged ED wave four before taking any trades.
Gold’s upside looks a bit more indecisive in its expected direction due to the structure of wave c. Although wae (ii) seems completed, another leg up to form a 9-wave structure can be expected. This may invalidate (ii) if it goes over $1909/oz.
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Daily Elliott Waves Forecast: EURUSD, SP500, GOLD (26.05.22)
Euro saw a short-term rejection at $1.0750 against the dollar for now and ut still has a little room to scoop another 50 pips to $1.0800. But crossing into wave one’s territory would change the whole main count. Is wave (4) completed yet or are we in for another surprise?
The SP500 index has traded in consolidation as expected when diagonal form. Another short-term leg down to lower lows would confirm the pattern and offer a better upside opportunity. But we need to be wary of the length of the alleged ED wave four before taking any trades.
Gold’s upside looks a bit more indecisive in its expected direction due to the structure of wave c. Although wae (ii) seems completed, another leg up to form a 9-wave structure can be expected. This may invalidate (ii) if it goes over $1909/oz.
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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