• 8 days Could Crypto Overtake Traditional Investment?
  • 13 days Americans Still Quitting Jobs At Record Pace
  • 15 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 18 days Is The Dollar Too Strong?
  • 18 days Big Tech Disappoints Investors on Earnings Calls
  • 19 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 21 days China Is Quietly Trying To Distance Itself From Russia
  • 21 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 25 days Crypto Investors Won Big In 2021
  • 25 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 26 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 28 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 29 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 32 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 33 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 33 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 35 days Are NFTs About To Take Over Gaming?
  • 36 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 39 days What’s Causing Inflation In The United States?
  • 40 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: SP500 and GBPUSD

S&P500

Stocks appears to be in a very nice bullish mode, at least on intraday chart with that five-wave rally from 2321 low that should be part of a bigger cycle. As such, we will look for more upside in the next few sessions, but first we still think that a)-b)-c) set-back can see deeper levels. Ideally support will be found near 2340 area.

S&P500, 1H

S&P500 1-Hour Chart


GBPUSD

Cable has seen a nice intraday move up to 1.2472 which appears to be a spike that completed wave four at resistance. As such, we will stick with bearish view for a fifth wave of a decline to around 1.2340/50 area. After that, be aware of a new turn up for a wave "b" correction

GBPUSD, 1H

GBP/USD 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