Daily Elliott Waves Forecast: EURUSD, SPX, GOLD (03.01.22)

Euro climbed to the 38% Fibonacci retracement at 1.1379 against the dollar. But it remains under pressure as it draws a corrective structure.

The SPX is setting itself up for yet another all-time high, whether printing an impulse or a diagonal. However, it could weaken below 4745 in the short term.

Gold’s upside leg looks corrective, suggesting another 5-wave impulse to the previous low might be in the books. Has the tringle ended? This is the question many traders ask themselves.

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