The euro trades mixed against the dollar ahead of the ECB with $1.0806 still intact. Downside continuation would increase the probabilities of a leading diagonal forming, whereas, should prices head above wave (4), the low might have been printed down near $1.0350.
US’s SPX500 index has consolidated in a tight range over the past few sessions, hinting at a triangle or double-three formation. Breaking the swing low at 4080 would invalidate the triangle, whereas sliding below wave 1 would invalidate the upside impulse.
The price of crude oil has printed a 3-month low at $124/oz but the structure towards the level has been corrective, resembling a diagonal. If it doesn’t extend above $130/bbl then it will most likely end up forming a leading diagonal, which implies much more upside.
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Daily Elliott Waves Forecast: EURUSD, SP500, WTI (09.06.22)
The euro trades mixed against the dollar ahead of the ECB with $1.0806 still intact. Downside continuation would increase the probabilities of a leading diagonal forming, whereas, should prices head above wave (4), the low might have been printed down near $1.0350.
US’s SPX500 index has consolidated in a tight range over the past few sessions, hinting at a triangle or double-three formation. Breaking the swing low at 4080 would invalidate the triangle, whereas sliding below wave 1 would invalidate the upside impulse.
The price of crude oil has printed a 3-month low at $124/oz but the structure towards the level has been corrective, resembling a diagonal. If it doesn’t extend above $130/bbl then it will most likely end up forming a leading diagonal, which implies much more upside.
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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