The Euro gained nearly 2% against the dollar this week after printing an impulse wave structure yesterday at $1.1185. However, its top pattern resembles an ending diagonal, and it could soon correct -if not reverse fully.
Price action on the SPX continued to produce positive returns as the index rose some 2.20% over the week, but fell marginally. Now, it is expected to correct in a sideways fashion before its next weak attempt for a fresh high. Can it even get there on dismal volumes?
OIL had a bad start to the week, falling some 13% by Tuesday, then regaining some losses, and finally seems to be continuing its downside as intraday losses mount up to 7% already. If $100/bbl holds, a triangle in wave 4 would be possible. Otherwise, a simple zigzag.
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Daily Elliott Waves Forecast: EURUSD, SP500, WTI (31.03.22)
The Euro gained nearly 2% against the dollar this week after printing an impulse wave structure yesterday at $1.1185. However, its top pattern resembles an ending diagonal, and it could soon correct -if not reverse fully.
Price action on the SPX continued to produce positive returns as the index rose some 2.20% over the week, but fell marginally. Now, it is expected to correct in a sideways fashion before its next weak attempt for a fresh high. Can it even get there on dismal volumes?
OIL had a bad start to the week, falling some 13% by Tuesday, then regaining some losses, and finally seems to be continuing its downside as intraday losses mount up to 7% already. If $100/bbl holds, a triangle in wave 4 would be possible. Otherwise, a simple zigzag.
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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