The SPX index reversed lower and it did this quite forcefully, hinting at further downside. Can the impulsive-looking leg surprisingly turn into a correction that leads to a reversal instead? Wave C seems unfinished for now.
The German DAX, on the other hand, has a more clear correction printing out. And it’s downward. However, it most probably is part of a larger degree correction to the downside. Otherwise, the short-term structure might be a leading diagonal.
The Swiss franc has started to strengthen finally but it doesn’t look like this is a reversal, at least against dollar. The rejection at parity was widely expected, but it’s unlikely to hold in the medium-term due to the depth of flat wave b.
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Daily Elliott Waves Forecast: SP500, GER40, USDCHF (19.05.22)
The SPX index reversed lower and it did this quite forcefully, hinting at further downside. Can the impulsive-looking leg surprisingly turn into a correction that leads to a reversal instead? Wave C seems unfinished for now.
The German DAX, on the other hand, has a more clear correction printing out. And it’s downward. However, it most probably is part of a larger degree correction to the downside. Otherwise, the short-term structure might be a leading diagonal.
The Swiss franc has started to strengthen finally but it doesn’t look like this is a reversal, at least against dollar. The rejection at parity was widely expected, but it’s unlikely to hold in the medium-term due to the depth of flat wave b.
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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