We are now finally seeing a reversal on stocks into risk-on mode as USD trades lower. China is also looking to stimulate its economy to fight the recent economic issues because of Covid. EURUSD is turning up and looks like there will be more upside coming on hawkish ECB comments. ECB's de Cos just mentioned that the APP will end at the start of Q3, and that hike will be shortly after. They are also very optimistic about the inflation that will gradually slow down towards the 2% goal.
From an Elliott wave perspective, we see nice five waves up so more gains can follow after a three wave retracement. So if you want to look for longs, waiting on a pullback may not be a bad idea.
From an Elliott wave perspective, we see nice five waves up so more gains can follow after a three wave retracement. So if you want to look for longs, waiting on a pullback may not be a bad idea.
