• 822 days Will The ECB Continue To Hike Rates?
  • 822 days Forbes: Aramco Remains Largest Company In The Middle East
  • 824 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,224 days Could Crypto Overtake Traditional Investment?
  • 1,228 days Americans Still Quitting Jobs At Record Pace
  • 1,230 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,234 days Is The Dollar Too Strong?
  • 1,234 days Big Tech Disappoints Investors on Earnings Calls
  • 1,235 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,236 days China Is Quietly Trying To Distance Itself From Russia
  • 1,237 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,241 days Crypto Investors Won Big In 2021
  • 1,241 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,242 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,244 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,244 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,248 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,249 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,249 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,251 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: SP500 And GBPUSD

S&P500

US stocks are turning down at the start of the session, but based on slow and overlapping price action down from recent high on E-mini S&P500 contract, we think that downside is limited based on corrective look. Pullback is labeled as wave 4) which may find a support at 2192-2197 area in the next few sessions.

S&P500, 1h

S&P500 1-Hour Chart


GBPUSD

Cable bounced from 1.2388 with five waves which means that corrective flat formation can be finished in red wave 2), so more upside may follow on cable in sessions ahead, minimum towards 1.2600 based on of projection of equal legs.

GBPUSD, 1H

GBP/USD 1-Hour Chart

 


Interested in our services? Then visit our homepage at www.ew-forecast.com and take a glace at some of our charts. You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment