The UK100 index continues to remain near all-time highs but with low volumes. This suggests we are close to ending the upward leg unless if momentum improves. Will it be diagonal, or are we still in primary wave four?
Dollar saw a short-term rally to the upside against the yen, but this was exactly what we expected — a wave (B) following a leading diagonal. The correction could complete soon though and could be offering another leg down in (C).
Euro, on the other hand, seems to be moving slowly-slowly up in a corrective manner against pound. Will it turn out to be a leading diagonal, a 1-2, 1-2 formation with a flat in 2, or simply another correction followed by further declines?
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Daily Elliott Waves Forecast: FTSE, USDJPY, EURGBP (31.05.22)
The UK100 index continues to remain near all-time highs but with low volumes. This suggests we are close to ending the upward leg unless if momentum improves. Will it be diagonal, or are we still in primary wave four?
Dollar saw a short-term rally to the upside against the yen, but this was exactly what we expected — a wave (B) following a leading diagonal. The correction could complete soon though and could be offering another leg down in (C).
Euro, on the other hand, seems to be moving slowly-slowly up in a corrective manner against pound. Will it turn out to be a leading diagonal, a 1-2, 1-2 formation with a flat in 2, or simply another correction followed by further declines?
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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