Elliott Wave Analysis For EURUSD and SP500
Stocks have recovered much higher than we thought, so now we are wondering if rally from 1815 is wave C as part of a correction, or is it wave 3. However, the important is a five wave move from 1815 now with final leg, subwave (v) in progress, which means that upside can be limited. With that said, traders should be aware of a short-term bearish reversal in sessions ahead. 1915-1930 is a resistance that could limit gains.
S&P500 (December 2014) 1h Elliott Wave Analysis
As long the EURUSD is above 1.2700 we will look at move since Oct 15th as a corrective wave B. There are chances for a triangle, but we are unsure and further bullish direction unconfirmed until we get a rally back to 1.2838.
EURUSD 1h Elliott Wave Analysis
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Author: Gregor Horvat
Gregor Horvat
www.ew-forecast.com
Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.
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