• 265 days Could Crypto Overtake Traditional Investment?
  • 270 days Americans Still Quitting Jobs At Record Pace
  • 272 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 275 days Is The Dollar Too Strong?
  • 275 days Big Tech Disappoints Investors on Earnings Calls
  • 276 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 278 days China Is Quietly Trying To Distance Itself From Russia
  • 278 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 282 days Crypto Investors Won Big In 2021
  • 282 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 283 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 285 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 286 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 289 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 290 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 290 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 292 days Are NFTs About To Take Over Gaming?
  • 293 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 296 days What’s Causing Inflation In The United States?
  • 297 days Intel Joins Russian Exodus as Chip Shortage Digs In
  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