Elliott Wave Analysis: AUDUSD and SP500

By: Gregor Horvat | Thu, Mar 2, 2017
Print Email

AUDUSD

Aussie is finally breaking lower, now in sharp decline through 0.7600 which looks like a third wave in the middle of an impulsive bearish trend. As such, we think that there is room for more weakness in sessions ahead, down to 0.7500 for a black wave 3, while market stays below 0.7637.

AUDUSD, 1h

AUD/USD 1-Hour Chart


S&P500

E-mini S&P500 is in a corrective retracement, ideally wave four which already has three subwaves from the high but there is room for a fall to 2385 from where uptrend can resume during the US hours.

S&P500, 1h

S&P500 1-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 


 

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/

Copyright © 2013-2017 Gregor Horvat

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