Crude oil continued to soar, reaching a 14-year high at $118/bbl. In its 5th wave upwards, the #commodity could correct if not reverse soon. In theory, the last wave is already printed. Can the bulls sustain the move?
Pound rose 0.62% on Wednesday but keeps its bearish outlook intact below $1.3750. Despite the chances of being in a corrective upside being high, the medium-term structure hints at a further downside.
The price action of the dollar versus its yen counterpart continues to be questionable. Despite that, the triangle in wave (4) is complete and the volumes printed after the bounce suggest more upside. The pair gained 0.50% yesterday and it’s up another 0.20% intraday.
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Daily Elliott Wave Forecast: WTI, GBPUSD, USDJPY (03.02.22)
Crude oil continued to soar, reaching a 14-year high at $118/bbl. In its 5th wave upwards, the #commodity could correct if not reverse soon. In theory, the last wave is already printed. Can the bulls sustain the move?
Pound rose 0.62% on Wednesday but keeps its bearish outlook intact below $1.3750. Despite the chances of being in a corrective upside being high, the medium-term structure hints at a further downside.
The price action of the dollar versus its yen counterpart continues to be questionable. Despite that, the triangle in wave (4) is complete and the volumes printed after the bounce suggest more upside. The pair gained 0.50% yesterday and it’s up another 0.20% intraday.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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