Euro’s reversal before reaching invalidation hints at a bearish impulse 0.80% lower from the swing high of 1.1483. A short-term correction could lead to increased selling pressure.
Pound has more losses to recover as it trades nearly 1% lower from the 1.3750 high registered last week. Despite looking impulsive towards the downside, its structure points at a correction only.
SPX remains volatile albeit consolidating. With the downside leg printing 5-waves though and 0.50% lower already intraday, the index spells a potential expanding flat variation. Too early to adjust the count, but the right moment to bring it back!
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Daily Elliott Wave Forecast: EURUSD, GBPUSD, SPX500 (18.01.22)
Euro’s reversal before reaching invalidation hints at a bearish impulse 0.80% lower from the swing high of 1.1483. A short-term correction could lead to increased selling pressure.
Pound has more losses to recover as it trades nearly 1% lower from the 1.3750 high registered last week. Despite looking impulsive towards the downside, its structure points at a correction only.
SPX remains volatile albeit consolidating. With the downside leg printing 5-waves though and 0.50% lower already intraday, the index spells a potential expanding flat variation. Too early to adjust the count, but the right moment to bring it back!
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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