AUDUSD and SP500 Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Jan 29, 2015
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AUDUSD is at the lows, making wave (iii) more extended than firstly thought. So if we consider that decline from 0.8022 is not in five waves yet, then pair can easily fall to 0.7700 if not even lower in sessions. But sooner or later correction will occur, so keep an eye on blue wave (iv) rally, before going even lower. We close AUDUSD EPO Short for 175pip profit.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

Futures contract on the S&P500 did not go far since yesterday, when price finished the day at the lows. Despite strong bearish momentum we see possibility of wave E) that can be in final stages of a big triangle. So ideally bounce will occur from around 1970-1980 in sessions ahead. However, for any bullish confirmation we will need to see a five wave rally from the lows and back toward 2046.

S&P500 (Mar 2015) 1h Elliott Wave Analysis

S&P500 (Mar 2015) 1-Hour Elliott Wave Analysis Chart

 


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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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