GOLD prices printed several bullish bars on the daily chart but our main scenario still sees a correction rather than a reversal. As the projection in wave C hints at more downside, will the golden pocket near $1862/oz offer rejection?
POUND continues its ascend and could break into fresh May highs this week if $1.26 is recaptured. However since this is a correction wave, the decent move is expected to wane off and reverse below $1.20.
KIWI has a good run from the low of 62c days ago with its price action hinting at an impulse to the upside and not a correction. If 0.6533 gives in to bullish pressure the chances of a low being down at the said support will have increased.
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Daily Elliott Wave Forecast – XAUUSD, GBPUSD, NZDUSD (23.05.22)
GOLD prices printed several bullish bars on the daily chart but our main scenario still sees a correction rather than a reversal. As the projection in wave C hints at more downside, will the golden pocket near $1862/oz offer rejection?
POUND continues its ascend and could break into fresh May highs this week if $1.26 is recaptured. However since this is a correction wave, the decent move is expected to wane off and reverse below $1.20.
KIWI has a good run from the low of 62c days ago with its price action hinting at an impulse to the upside and not a correction. If 0.6533 gives in to bullish pressure the chances of a low being down at the said support will have increased.
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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