Daily Elliott Wave Forecast: SILVER, AUDUSD, GBPJPY (04.03.22)

4 March 2022 Amega

Silver has risen some 5% this week but succumbed to 3.70% following partial profit-taking. Its upside structure from either low near $21.50 is not impulsive, but it might be a motive wave. However, the scenario of an ending diagonal still in the making downward remains intact.

Aussie continued to soar this week, up 3% since its early Monday low of 0.7163. Despite its impulsive move upward, the preceding structure hints at a flat wave C. Will it confirm at the previous wave 4?

Pound has lost some 3.40% of its value since February’s top at 158 against yen. It is expected to end correcting its flat wave c below 150. This week’s 0.75% recovery might see prices balance out near 154 but will likely continue to print downward waves after correcting higher.

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