The EURUSD structure hints at the end of the correction in wave (4) and the initiation of (5). With a 5-wave impulse already printed, any upside is expected to be short-lived.
The SPX spike to all-time highs has recorded what seems to be the third wave of an ending diagonal with a correction expected down to around 4600. If this fails to hold, we might be in a flat correction.
Gold’s rejection at the 62% Fibonacci retracement at $1830 ended the correction in B of triangle wave (E) for now. A break below $1738 could complete wave (4), triggering a massive upside.
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Daily Elliott Wave Forecast: EURUSD, SPX500, GOLD (06.01.22)
The EURUSD structure hints at the end of the correction in wave (4) and the initiation of (5). With a 5-wave impulse already printed, any upside is expected to be short-lived.
The SPX spike to all-time highs has recorded what seems to be the third wave of an ending diagonal with a correction expected down to around 4600. If this fails to hold, we might be in a flat correction.
Gold’s rejection at the 62% Fibonacci retracement at $1830 ended the correction in B of triangle wave (E) for now. A break below $1738 could complete wave (4), triggering a massive 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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