EURUSD

EURUSD is trading in a sideways price action and is not moving much for the last several days so we think this complex correction may be a triangle, that can be near completion as each sub-wave needed for this pattern is already visible. That said we will be looking for higher levels, as we believe that wave c-circled will continue to the upside, reaching for the 61.8 Fibonacci ratio, before making a reversal lower.

EURUSD, 1H

S&P500

S&P500 is trading nicely to the upside, reaching new highs as part of a bigger impulsive cycle. As we see on the chart, we think that black wave 3 can now be completed, as price reached the 200 Fibonacci ratio, which could cause a reversal into wave 4. As such we now believe that wave 4 could be already underway and that more wakness can follow, idealy towards the 2130 region, where formal wave iv-circled can act as a support and a turning point higher.

S&P500, 1H

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