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Daily Elliott Wave Forecast: SPX500, USDJPY, FTSE (02.02.22)

2 February 2022 Amega

SPX marked yet another positive day yesterday, marking an 8.4% upside since the low at 4220 this week. Can this still be considered a bear flat wave (C)? It nears invalidation of the impulse, and once that’s done, focus will turn to 4750. There, an all-time high will be most probable.

YEN continued to strenghten this week, trading 0.50% lower against DOLLAR and counting. With chances of wave (4) being incomplete increasing, we could see more downside over the next few days. Will 114 hold?

UK’s FTSE seems to be doing well 5% above its lasy week’s low, and this could transpire into next week too provided we’re in wave C of an ending diagonal. The structure is there, and hints at a decent drop once the 5th is in.

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