SP500 and USDCAD: Elliott Wave Analysis

By: Gregor Horvat | Wed, Oct 8, 2014
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S&P500 came very close to levels from last week at 1917. If this low is taken out, then we will have to look for even lower levels. I am looking at alternate scenario, where 1917 break puts further weakness in play for 1875 for wave 4).

S&P500 (December 2014) 4h Elliott Wave Analysis

S&P500 (December 2014) 4-Hour Elliott Wave Analysis Chart

Not much has changed on USDCAD, pair is still sideways within a three wave bounce. We see a triangle in the middle of a red wave b) that can still test 1.1200/10 before pair turns down for wave c).

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart

 


 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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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