Euro has finally reached the $1.0375 target identified a while ago against the dollar. Although the structure of a 5-wave leg has or is likely completed, more downside can be expected near $1.0200. The break of $1.0375 is a must.
Loonie continues to descend and recently broke back above $1.30. With yet another triangle invalidation the main scenario has been changed to an upward correction – again; an ABC zigzag. The next resistance lies near $1.32.
Amazon gapped downward a few days ago and its plummeting seems to continue towards the $2k. Will it break it or bounce there? And if it bounces, will it be for a reversal or a simple relief rally? By the looks of it, the latter is more probable.
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Daily Elliott Wave Forecast: EURUSD, USDCAD, AMAZON (13.05.22)
Euro has finally reached the $1.0375 target identified a while ago against the dollar. Although the structure of a 5-wave leg has or is likely completed, more downside can be expected near $1.0200. The break of $1.0375 is a must.
Loonie continues to descend and recently broke back above $1.30. With yet another triangle invalidation the main scenario has been changed to an upward correction – again; an ABC zigzag. The next resistance lies near $1.32.
Amazon gapped downward a few days ago and its plummeting seems to continue towards the $2k. Will it break it or bounce there? And if it bounces, will it be for a reversal or a simple relief rally? By the looks of it, the latter is more probable.
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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