• 13 hours The Crushing Reality Of Poverty In America
  • 16 hours Should You Buy Into The World’s Largest IPO?
  • 19 hours The Infinite Possibilities Of Cosmic Energy
  • 2 days Analysts Link Walking To Economic Growth
  • 3 days Will Japan Turn Its Back On The Aramco IPO?
  • 4 days Global Debt Soars To $188 Trillion
  • 4 days The World's Largest Gold Miners Are Getting Creative
  • 5 days Twitter: The Saudi Spy Tool To Bring Down Dissidents
  • 5 days Broad Commodity Funds Don’t Give Enough Exposure To Gold
  • 6 days Here We Go Again: Another Giant Telecoms Mega-Merger
  • 6 days World's Largest Gold Miner Sees Profits Triple
  • 7 days Microsoft Japan Trials 4 Day Work Weeks, Productivity Soars By 40%
  • 7 days Hedge Funds Lose $4 Billion In Four Days As California Wildfires Rage On
  • 8 days New Viral App May Be A National Security Threat In Disguise
  • 8 days China's $10 Trillion Space Play
  • 8 days Human Energy: Debunking The Matrix
  • 9 days Cannabis Has Become A Real Estate Selling Point
  • 10 days The Gold Stock Boom Is Just Getting Started
  • 11 days Fading Trade War Hope Leaves Oil Directionless
  • 12 days Millennials Deal Death Blow To America’s Biggest Breweries
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: AUDUSD and SP500

AUDUSD

AUDUSD is looking for some support down at 0.7584 to be exact, but after only three waves of decline from 0.7648. We think that was a corrective wave B as part of an irregular correction which means that wave 2) can see higher prices. There is room for 0.7648 resistance to be hit, or maybe even 0.7684 before market may start a new bearish leg.

AUDUSD, 1H

AYD/USD 1-Hour Chart


S&P500

Not much of change on E-mini S&P500 intraday chart, where we still see prices in a three-wave advance. It's a recovery that can extend up to 2358 area after wave b/ii is finished, which is now underway. At the same time, I am looking at the RSI divergence line that may indicate a bounce higher into c/iii wave, once upper channel line is tested.

S&P500, 1H

S&P500 1-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment