Daily Elliott Waves Forecast: EURUSD, SP500, WTI (30.05.22)

30 May 2022 Amega

Euro is getting closer to the resistance we identified weeks ago against the dollar, which happens to also be an invalidation level for the main bearish scenario. Can $1.08 hold or are we in for an upward surprise?

The SP500 index has printed a low -for now- and soared above the 4100 resistance we labeled as ‘restrictive’ over the past few trading sessions. However, its upside longevity is questionable on low volumes.

Oil prices are somewhat biased up but struggle to make a decent breakout. Although it might turn out a short-term blip, it adds to the main scenario where a flat wave b is expected to form a false break before the real bullish attempt begins.

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