Daily Elliott Wave Forecast: EURUSD, WTI, FTSE (07.03.2022)

7 March 2022 Amega

Euro plummeted 1% at the open on Monday but managed to retrace some 50% of the drawdown so far. Despite its structure looking complete against the dollar, another higher degree move could be expected. Where is support for the pair?

Oil continued to soar, printing an impressive 15% upside intraday so far. Although quite extended, its formation hints at another short-term leg up before any correction occurs. Where does the commodity stop?

The UK’s FTSE plunged over 3% this morning, likely registering wave three and correcting in wave four. Another leg down would hint at potential pullback higher and only slide lower in primary wave B.

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