• 314 days Will The ECB Continue To Hike Rates?
  • 315 days Forbes: Aramco Remains Largest Company In The Middle East
  • 316 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 716 days Could Crypto Overtake Traditional Investment?
  • 721 days Americans Still Quitting Jobs At Record Pace
  • 723 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 726 days Is The Dollar Too Strong?
  • 726 days Big Tech Disappoints Investors on Earnings Calls
  • 727 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 729 days China Is Quietly Trying To Distance Itself From Russia
  • 729 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 733 days Crypto Investors Won Big In 2021
  • 733 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 734 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 736 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 737 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 740 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 741 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 741 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 743 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…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On EURUSD And SP500

EURUSD

As we see on the intraday chart of EURUSD, we can tell that pair will continue lower, as the lower channel line from Feb lows was broken. That said the complex correction of w-x-y is now completed and a five wave drop should continue to unfold, ideally towards 1.0943-1.0902, where some fibo. projection ratios are seen.

EURUSD, 1H

EURUSD 1-Hour Chart


S&P500

S&P500 is trading as expected, now already in a correction in red wave iv) that reached our fibo. projection ratio of 38.2 and could now ideally move to the upside into wave v). As we know, in this case, the fibo. ratio of 38.2 can react as a support and also a reversal. Seeing the bigger picture of EURUSD, pair can recach even 1989 area, before a pullback of a higher degree may occur.

S&P500, 30 Min

S&P500 30-Minute Chart

 


If you like our Elliott wave analysis, you can visit our site atàwww.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment