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No services are provided to residents or citizens of the USA, North Korea, Iran, Mauritius and the Russian Federation. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read and ensure you fully understand our Risk Disclosure Policy before investing.
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Daily Elliott Wave Forecast: EURUSD, WTI, GOLD (19.04.22)
Euro’s last leg to $1.075 against the dollar is not only impulsive but carries momentum. Despite registering a fresh low, printing the 5th, another move down can be expected. However, we might be still correcting in wave ii (encircled green) in the short term.
Crude oil seems to be heading up for its final wave above the March high. The upward leg from wave 4 at $93/bbl seems impulsive so far, with a correction not being a surprise after gaining some 15% since. Can WTI maintain a price above the $100/bbl barrier?
Gold has also moved up since its printed its first downward leg at $1896/zo, but the upside is likely part of a correction in flat wave 2. It might explain why it looks hesitant too. Without reaching the $2k/oz round level, though, is the upside complete, or are we in for another short-term upside before the turn?
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