The possibility of a global recession Successive increase in interest rates in all economies of the world and imposing costs on economies. Political tensions (Ukraine/Taiwan/Iran) Printing money without backing(just see USM2 chart). Inefficiency of the crypto market.
It seems that the dollar index is completing the bearish bat pattern. Target seems a bit exaggerated but anything is possible.
A bearish pattern seems to be happening. The pair is completing the Quasimodo pattern.
Silver seems to have strong support that can be attractive for buyers.
I see a 5 impulse wave is completed and maybe need a little correction to start a new one.
The general trend in upper time-frames is upward but it seems a short correction is comming.
It looks like the price will go down to about $320. You can think about buying in the Fibonacci 61.8 range of the previous impulse wave.
It appears to have completed an Impulse Elliott wave and is in a correction. We can wait for 55$ to get a long position in step1. The next step is 52$ The first TP is 86$ and the second is 96$
Targets: 100, 110, 150 SL: 64
A wonderful opportunity. Do not miss it.
It seems to be at the end of an Elliott wave. Caution to buy!