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Amega Global Ltd is an investment company authorised and regulated under the Financial Services Commission, Mauritius, Investment Dealer Licence: GB22200548. Findeavour Ltd is authorised as a technology service provider to Amega Global Ltd. Company number 12971852, United Kingdom.
No services are provided to residents or citizens of the USA, North Korea, Iran, Mauritius and the Russian Federation. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read and ensure you fully understand our Risk Disclosure Policy before investing.
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Daily Elliott Waves Forecast: EURUSD, GOLD, COFFEE (03.06.22)
The euro has formed a corrective downward leg before turning up against the dollar, and this adds more conviction that wave (4) might receive invalidation. Until $1.08062 the formation following the ending diagonal completion at $1.07872 can only be a leading diagonal.
Gold’ upside is not near invalidating the main scenario, however, it brings an ending diagonal in the books. This should enable once wave 1 low at $1895/oz breaks, otherwise, the 1-2, 1-2 structure is still valid and the correction wave c will likely end soon.
Coffee futures seem to have put a low in just above the $200 barrier as wave (C) formed and it was followed by an upward impulse. If we continue to trade above wave (1), the likelihood of breaking at record highs remains elevated unless we turn into a sideways correction.
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