• 2 hours Rhodium Climbs Reaches Record Highs
  • 19 hours Tesla Tumbles After Battery Day Fails To Impress
  • 1 day Three Energy ETFs To Watch This Decade
  • 2 days What To Do With $2 Trillion In Suspicious Bank Transactions?
  • 3 days How The Stock Market Predicts Electoral Victory
  • 3 days Tesla's "Battery Day" Could Deal A Blow To Cobalt Miners
  • 4 days New TikTok Deal Hopes To Bypass National Security Concerns
  • 4 days Where Will Gold Go From Here?
  • 5 days COVID-19 Is Fueling A Pastic Waste Crisis
  • 5 days Gold Output Set To Decline
  • 6 days Uber And Lyft Look To Go Electric
  • 7 days COVID-19 Is Crushing Palladium Demand
  • 8 days This ‘Once-Boring’ Tech Company Is Now Super Hot
  • 9 days Will Air-Based Protein Be Our Future Food?
  • 9 days Google Pledges To Go Carbon-Free By 2030
  • 10 days A New Twist In The TikTok Saga
  • 10 days Gold Inches Closer To $2,000
  • 11 days Delivery Drones Are Coming Sooner Than You Think
  • 11 days Traders See More Volatility Ahead For Commodities
  • 12 days How COVID-19 Is Transforming The World's Sovereign Wealth Funds
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…

Gregor Horvat

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…

Contact Author

  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