Elliott wave analysis: AUDUSD and S&P500 

S&P500 analysis

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Elliott wave analysis: AUDUSD and S&P500

AUDUSD is trading in a five-wave rally labeled as wave A. Specifically we see price trading at the end of minor wave iv), that points higher into wave v) with projection target coming in at Fibonacci ratio of 61.8. Once sub-wave v) of A unfolds a new bigger three-wave pullback into wave B) may follow.


audusd analysis

S&P500 broke out of a triangle correction located in wave iv) and is now trading within minor wave v). Well we see price higher but notice that we are tracking final stages of a higher degree wave iii or c, which means a temporary top may be found and a three-wave reversal below 2594 level can follow. However, before a top gets found we may still see price rally towards the Fibonacci projection zone of 100.0 and 261.8.

S&P500, 1H

S&P500 analysis


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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