The euro lost 0.70% versus the dollar on Tuesday and it’s down 0.20% intraday early on Wednesday. Its structure follows a 5-wave downward leg, poised to print fresh low in wave (5). Are we in for a reversal once this takes place, or a further bearish continuation?
Against the yen, the greenback has gathered attention again as it’s up 1.10% above its Tuesday open. With volumes decreasing, though, the upside might be limited and corrective. Will it be a sideways correction in wave (4), is (4) done, or are we in for an ending diagonal in (5)?
Wheat is 25% below its record high today, with 2% of that owed to intraday trading. With its structure looking bearishly impulsive, the commodity could slide lower. However, this might be followed by an upside relief if it happens at all unless wave (1) is already completed.
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Daily Elliott Waves Forecast: EURUSD, USDJPY, WHEAT! (06.04.22)
The euro lost 0.70% versus the dollar on Tuesday and it’s down 0.20% intraday early on Wednesday. Its structure follows a 5-wave downward leg, poised to print fresh low in wave (5). Are we in for a reversal once this takes place, or a further bearish continuation?
Against the yen, the greenback has gathered attention again as it’s up 1.10% above its Tuesday open. With volumes decreasing, though, the upside might be limited and corrective. Will it be a sideways correction in wave (4), is (4) done, or are we in for an ending diagonal in (5)?
Wheat is 25% below its record high today, with 2% of that owed to intraday trading. With its structure looking bearishly impulsive, the commodity could slide lower. However, this might be followed by an upside relief if it happens at all unless wave (1) is already completed.
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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