What’s coming next in EUR/USD, SPX500, XAU/USD and EUR/GBP – Elliott Wave game plan [Video]
|Our market updates provide traders with professional-level insights into future price movements, utilizing Elliott Wave Theory. This week, we analyze four key markets: EUR/USD, EUR/GBP, SPX 500, and XAU/USD. Here’s what we see coming next.
EUR/USD – Critical levels approaching
The EURUSD has been completing a complex wave structure. Based on the current count, we expect a decisive move soon, either a bullish breakout or a continuation of the bearish trend. Traders should pay close attention to key support and resistance levels outlined in the video.
EUR/GBP – Potential breakout ahead
This pair has been in a consolidation range, but internally, wave patterns are suggesting an imminent breakout. We've identified a potential impulsive wave forming, which could offer a great opportunity with limited risk.
SPX500 – Don’t let the rally fool you
While the index appears strong, our Elliott Wave count suggests that we may be within a larger corrective phase. It's essential to remain cautious and wait for confirmation before jumping in. This could be a trap for late buyers.
XAU/USD – Preparing for a move
Gold has been under pressure, but the current corrective structure could be paving the way for a new directional wave. We highlight the precise levels at which momentum could shift and where traders should prepare for action.
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