• 14 hours The “Oil Of The Future” Is Set To Soar In 2021
  • 16 hours Wealthy Could End Up Footing The Bill For States’ Budget Shortfalls
  • 1 day Could This Be The Hottest Commodity Play Of 2021?
  • 2 days JP Morgan Says Fintech Will Steal The Disruptor Show
  • 4 days Facebook Plays Dirty Down Under
  • 4 days Could This Be The Most Exciting Lithium Play Of 2021?
  • 7 days China Sidelines US As EU’s New Top Trading Partner
  • 9 days 3 Smart Ways To Play the Global Chip Shortage
  • 10 days Flying Taxis Are The Number One Speculative Bull Arena
  • 11 days Ocean Power: The Missing Link
  • 16 days Luxembourg’s Ultra-Secrecy Still Attracts Hundreds Of Billionaires
  • 17 days Robinhood Is Under Fire And Trading ‘Democracy’ Is In Question
  • 18 days Bitcoin Could Be Worth $12 Trillion In The Long-Term
  • 19 days The Biggest Tech IPO Since Uber … For Farmers
  • 21 days The Biggest Boost Yet for the Cannabis Industry
  • 22 days Biden Administration Signs $231 Million Deal For At Home COVID Tests
  • 23 days China’s Tech Billionaire Ma Is Back And ‘Compliant’
  • 24 days Gamestop Crashes By 60% But The Story Is Far From Over
  • 26 days Crypto Crime Is Plummeting
  • 28 days Small Oil Firm Gets Massive Wall Street Bets Bump
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On AUDUSD And SP500

AUDUSD

AUDUSD looks very attractive on the short side. We can count 5 waves down from the latest highs and now we believe that price is tracing out an ABC pullback with only wave C left to complete the pattern. This wave C up will face a strong resistance possibly around 0.7430-50 region, where formal wave iv can react as a turning point lower. Maybe some short opportunities can pop up.

AUDUSD, 30Min

AUD/USD 30-Minute Chart


S&P500

S&P500 made a nice recent pullback reaching 38% retracement ratio measured from the highs of red wave ii). This is a typical measurement for the wave iv) pullback and now the only thing missing is the last wave v) to the downside for a completion of a full impulsive cycle. From the region of wave iv) we expect one more push down to 2.075-80 levels to complete the structure in the blue wave a.

Afterwards when blue wave a is finished, we believe a three wave pullback could occure in wave b, ideally reaching the lower corrective channel line from where a new drop into wave c may occure.

S&P500, 1H

S&P500 1-Hour Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment