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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