EURO rose nearly 2% against the DOLLAR this week alone but its impulsive upside structure most probably belongs to a correction. More uspide could be seen, however, the main idea is to print a dip correction in wave (2) of an Ending Diagonal.
GOLD has marked a good recovery but only ~1.75% higher in the week. Its structure looks way more corrective but the narrative is somewhat identical to euro’s; it’s in wave ii of wave C, but of a Triangle wave (E).
POUND has not traded any different from the above as risk appetite weakened the greenback. Although it looks like it’s correcting an upward impulse, the chances of it being in an upward correction instead increase.
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Daily Elliott Wave Forecast: EURUSD, GOLD, GBPUSD (03.02.22)
EURO rose nearly 2% against the DOLLAR this week alone but its impulsive upside structure most probably belongs to a correction. More uspide could be seen, however, the main idea is to print a dip correction in wave (2) of an Ending Diagonal.
GOLD has marked a good recovery but only ~1.75% higher in the week. Its structure looks way more corrective but the narrative is somewhat identical to euro’s; it’s in wave ii of wave C, but of a Triangle wave (E).
POUND has not traded any different from the above as risk appetite weakened the greenback. Although it looks like it’s correcting an upward impulse, the chances of it being in an upward correction instead increase.
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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