• 734 days Will The ECB Continue To Hike Rates?
  • 734 days Forbes: Aramco Remains Largest Company In The Middle East
  • 736 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,136 days Could Crypto Overtake Traditional Investment?
  • 1,141 days Americans Still Quitting Jobs At Record Pace
  • 1,143 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,146 days Is The Dollar Too Strong?
  • 1,146 days Big Tech Disappoints Investors on Earnings Calls
  • 1,147 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,149 days China Is Quietly Trying To Distance Itself From Russia
  • 1,149 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,153 days Crypto Investors Won Big In 2021
  • 1,153 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,154 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,156 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,157 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,160 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,161 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,161 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,163 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDCAD And SP500

USDCAD

On USDCAD we are looking at declining price action from 1.4018 that can be an expanding diagonal, now moving down into the final stages of decline. We see wave 5 of C) headed beneath 1.3650 and even towards 1.3600 area, where pair can be looking to form a low this week.

USDCAD, 1H

USDCAD 1-Hour Chart


S&P500

E-mini S&P500 keeps moving up, so we adjusted the wave count which is still an impulse from the low, but now with wave v-circled in progress up to 382.% projection level of wave three measured from end of wave four. At the same time we also see a divergence on the RSI, which is very common between waves three and five that indicates a coming turning point. That said, we still think that sooner or later new set-back will occur in minimum three waves.

S&P500, 1H

S&P500 1-Hour Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment