• 4 hours U.S. Moves To Bar Iranians From Investor Visas
  • 1 day Why Germany Is Going To War With Gold
  • 2 days Gold Is Still Cheap Compared To Stocks
  • 3 days Are Cryptocurrencies Funding Terrorism?
  • 4 days Promising Oil Companies To Watch In 2020
  • 4 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 5 days Tesla Stock Continues To Soar
  • 5 days What New Economic Data Reveals About Gold's Trajectory
  • 6 days The Lucrative New Tech Hijacking Your Privacy
  • 6 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 7 days Trade War Takes Its Toll On Shipping
  • 9 days Is $90 Oil Possible? An Interview With Jay Park
  • 10 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 10 days Is This The Most Important Energy Project Of 2020?
  • 11 days Startups Are Dying To Give You A Better Death
  • 11 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 12 days The Banking Bonanza Is Just Getting Started
  • 12 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 13 days Who Is The Most Dangerous Person On The Internet?
  • 13 days SoftBank Sees First Quarterly Loss In 14 Years
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On SP500 And GBPUSD

S&P500

We see US stocks ticking higher at the moment ahead of the FOMC statement and press conference. However rally may not last long as we expect a three wave rise against previous five waves of decline which suggests that more weakness should follow after a completed wave B, ideally around 2090-2100 area.

S&P500, 1H

S&P500 1-Hour Chart


GBPUSD

GBPUSD has turned lower two days back when we highlighted 1.4300 resistance area for black wave 4. Pair has turned nicely down from there with more than 200 pips decline which we see it as wave 5, so now a new three wave recovery in wave four of a higher degree can be unfolding. If we are correct then 1.4300 should be important once again for a potential new sell-off later this week.

GBPUSD, 1H

GBP/USD 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