• 742 days Will The ECB Continue To Hike Rates?
  • 742 days Forbes: Aramco Remains Largest Company In The Middle East
  • 744 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,144 days Could Crypto Overtake Traditional Investment?
  • 1,149 days Americans Still Quitting Jobs At Record Pace
  • 1,151 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,154 days Is The Dollar Too Strong?
  • 1,154 days Big Tech Disappoints Investors on Earnings Calls
  • 1,155 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,157 days China Is Quietly Trying To Distance Itself From Russia
  • 1,157 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,161 days Crypto Investors Won Big In 2021
  • 1,161 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,162 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,164 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,165 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,168 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,169 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,169 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,171 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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 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