Daily Elliott Wave Forecast: GBPUSD, USDCAD, SILVER (21.04.22)

21 April 2022 Amega

The British pound rose yesterday, breaking the 1.30 technical level. With a swing low below wave 1 somewhat confirming an irregular wave b (encircled) prices could continue to accelerate. Otherwise, they might fall to fresh lows.

Loonie has broken outside a triangle wave (4) and likely completed wave 1 of the bearish price action. Since cycle wave w is projected to be a flat pattern, one more low could be expected in primary wave C. Could the triangle be invalidated?

Silver maintains a slightly bearish corrective structure after failing at 27.00 and wave c (encircled) could continue to expose bulls to local lows. If the commodity starts to accelerate again, then we might be in for an upward move instead.

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