Elliott Wave Analysis: USDCHF and SP500 Intraday

By: Gregor Horvat | Tue, Apr 1, 2014
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USDCHF reached new swing low that can be wave five in leading diagonal that represents first leg of three waves down. A short-term corrective rally should follow then in three legs before new leg down occurs. Short-term critical resistance is at latest high; bearish view below that price.

USDCHF 1h Elliott Wave Analysis

USDCHF 1-Hour Elliott Wave Analysis Chart

E-mini S&P500 did not move much in the last couple of hours, but this may change today during the US trading session as market is running up in to 1870 technical resistance level. I have seen few times market reversing down from that level last week as shown on the cash market chart where swing zone is 1870/75. I would not be surprised to see anther leg down. But sooner or later market will breakout, that's for sure, just not sure if we are already there.

S&P500 (June 2014) 1h Elliott Wave Analysis

S&P500 (June 2014) 1-Hour Elliott Wave Analysis Chart

S&P500 Cash market

S&P500 Cash Market Chart


Written by www.ew-forecast.com



Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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