TRENDING:

GBP/USD

XAU/USD

Elliott Wave live: Risk-on is back [Video]

Gregor Horvat Wavetraders

Heey traders!

I’m finally back after two weeks of vacation. I had a wonderful time with my family and friends, and now I’m just getting back into the market. It will take me a few days to catch up on everything I missed, but here’s what is clear so far: stocks are back in risk-on mode!

After some initial recession fears spurred by the NFP report showing higher unemployment (4.3%) at the start of the month, stocks have bounced back up as last week’s retail sales data indicates the economy isn’t as bad as feared. CPI figures have also helped stabilize the markets, and with the FED potentially closer to cutting rates in September, the stock market may continue higher.

I will keep an eye on wave 4 on SPX, and that’s also when dollar can be sold across the board, hopefully from higher/better levels. Metals are also looking good, pointing higher. Cryptos made some rebound as well, and possibly there is more to come if stock remains stable.

Grega

For a detailed view and more analysis, you may want to watch below our latest recording of a live webinar streamed today on August 19 2024:

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Wavetraders

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

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025