Daily Elliott Wave Forecast – EURUSD, OIL, SILVER (20.05.22)

20 May 2022 Amega

Euro continues to accelerate against the Dollar as the trading week comes to a close. Despite looking impulsive, there are striking structures hinting at correction. In the short term, however, more upside is plausible.

WTI holds firm above the $100/bbl barrier and although looking corrective to the upside, a flat offers bullish bias. In the short-term, the correction downwards though might not be down as the downside leg has five waves printed.

Silver has made an impressive comeback but it hangs on a possible correction — proportionally. Can it get to levels that would invalidate a reversal near $24/oz? Highly unlikely. But $22.50/oz is not, at least in the short term.

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