Euro plunged against dollar after completing wave 4, which gives bears an opportunity to form a new low. 1.0375 and 1.0214 become major levels now. On the other side, 1.0645 could be the resistance break to offer a bullish reversal.
Pound plummeted to fresh lows near 1.2325, registering a fresh low, contrary to eurodollar. Since its 5th wave is completed, it could turn any time. However, 1.2275 makes a good support. Perhaps it breaks too if 1.2419 remains a resistance.
The SPX500 slid too, likely after completing wave B as a double top with wave (encircled) iv. The previous low is at 4063, but it might break given the impulsiveness of the downside leg. Can we see 4k again?
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Daily Elliott Wave Forecast: EURUSD, GBPUSD, SP500 (06.05.22)
Euro plunged against dollar after completing wave 4, which gives bears an opportunity to form a new low. 1.0375 and 1.0214 become major levels now. On the other side, 1.0645 could be the resistance break to offer a bullish reversal.
Pound plummeted to fresh lows near 1.2325, registering a fresh low, contrary to eurodollar. Since its 5th wave is completed, it could turn any time. However, 1.2275 makes a good support. Perhaps it breaks too if 1.2419 remains a resistance.
The SPX500 slid too, likely after completing wave B as a double top with wave (encircled) iv. The previous low is at 4063, but it might break given the impulsiveness of the downside leg. Can we see 4k again?
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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