Elliott Wave Analysis: S&P500 And GBPJPY

Gregor Horvat Wavetraders

S&P500

S&P500 futures contract is trading higher, now breaking above 2200 level which opens the door for higher prices within a red wave 5) which may rise to 2210/15 area in the near-term while pair is trading above 2197 swing low.

S&P500, 1H

GBPJPY

GBPJPY is moving higher as stock prices rise. On intraday chart we see some sharp price action over the last 24 hours which looks like a wave three that can belong to a higher degree wave v-circled that can be targeting 143.00 region, while market is above 138.80.

GBPJPY, 1H

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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