The euro has finally turned against the dollar, but it missed printing a fresh low and it is likely to just correct, not reverse. It’s up more than 1% since the $1.08 formed support and its move is expected to reach higher territories near $1.10 and perhaps above. Can bulls pull off a good short-term upside?
The British pound is up nearly 1.50% against the greenback as it has pulled off a stronger upside finally the $1.30 rejection. Its structure suggests we’re in a wave (encircled) c of a minor wave 2 flat correction as the fresh low resembles a corrective pattern. Can we revisit $1.33 at least?
The SP500 index also rose some 1.50% as risk shifted in the markets. After completing the leasing diagonal pattern identified last time the correction is expected to get us closer to the 4500 than farther. Can we break the sideways range at 4460 thought, or are we in for a surprise?
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Daily Elliott Wave Forecast: EURUSD, GBPUSD, SPX500 (14.04.22)
The euro has finally turned against the dollar, but it missed printing a fresh low and it is likely to just correct, not reverse. It’s up more than 1% since the $1.08 formed support and its move is expected to reach higher territories near $1.10 and perhaps above. Can bulls pull off a good short-term upside?
The British pound is up nearly 1.50% against the greenback as it has pulled off a stronger upside finally the $1.30 rejection. Its structure suggests we’re in a wave (encircled) c of a minor wave 2 flat correction as the fresh low resembles a corrective pattern. Can we revisit $1.33 at least?
The SP500 index also rose some 1.50% as risk shifted in the markets. After completing the leasing diagonal pattern identified last time the correction is expected to get us closer to the 4500 than farther. Can we break the sideways range at 4460 thought, or are we in for a surprise?
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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