Elliott Waves on SP500 and USD index [Video]

Gregor Horvat Wavetraders

EURUSD found the support recently and rallied up to 1.1880 where we saw some reversal in the last few sessions, from the upper trendline resistance as stocks came lower into a pullback. SP500 seems to be trapped within ongoing consolidation, ideally a triangle, so market may still see more upside after A-B-C-D-E subwaves, but ideally after the US elections. But in the mean-time we have to be aware of any potential dips due to coronavirus lockdowns that seem to be spreading very fast in Europe. However, business and investors can be prepared much better this time compared to March, so any new dip can be temporary

For technical outlook on SP500 and the USD Index, please check our video below.

Have a nice weekend.

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Author

Gregor Horvat

Wavetraders

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

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