• 857 days Will The ECB Continue To Hike Rates?
  • 857 days Forbes: Aramco Remains Largest Company In The Middle East
  • 859 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,259 days Could Crypto Overtake Traditional Investment?
  • 1,264 days Americans Still Quitting Jobs At Record Pace
  • 1,266 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,269 days Is The Dollar Too Strong?
  • 1,269 days Big Tech Disappoints Investors on Earnings Calls
  • 1,270 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,272 days China Is Quietly Trying To Distance Itself From Russia
  • 1,272 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,276 days Crypto Investors Won Big In 2021
  • 1,276 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,277 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,279 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,280 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,283 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,284 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,284 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,286 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  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