Elliott Wave Analysis On SP500 And EURUSD

By: Gregor Horvat | Tue, Aug 23, 2016
Print Email

S&P500

US markets are moving sharply higher at the start of the US session with the E-mini S&P500 futures contract trading at new all time highs. Current price is at 2190 but there is room for 2200 in the short-term while market trades above 2175.

S&P500, 1H

S&P500 1-Hour Chart


EURUSD

I am looking at EURUSD 30min chart and like what I see so far. We have three waves down that completed blue wave four at 1.1270 from where market rallied in five waves so we can expect further upside through 1.1368 and then towards 1.1400 area. If that's the case then current minor retracement from 1.1360 is only a small corrective set-back with limited downside around 1.1315 from where new upward reaction may follow. Thats said 1.1270 is the invalidation level; as long it holds trend is up.

EURUSD, 30Min

EUR/USD 30-Minute Chart

 


Interested in our services? We have a Special Offer: Get 1 Month Access For 1&euro!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

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.

EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com