Weekly market analysis: Elliott Wave setups in EUR/USD, S&P500 and Crude Oil [Video]

In-depth financial market analysis is essential for all traders aiming to achieve consistent results. This week, our focus is on three major markets: EUR/USD, S&P500, and Crude Oil (WTI), leveraging the power of Elliott Wave, key technical levels, impending macro releases, and robust risk management methods.

EUR/USD: Ready for a bullish reversal?

EUR/USD offers a clear bullish setup for those able to spot precise turning points. Currently, the support zone between 1.1576 and 1.1660 is the focal area for a potential long entry, provided the price confirms a reversal. There is a 68% probability, based on Elliott Wave structure and recent behavior, that price will respect these levels before heading upward.

How to trade the reversal?

• Wait for confirmation: Enter only after identifying a clear reversal bar signaling a trend change. Early entries increase risk.
• Risk management: Place stops just below support. Adjust position size based on volatility.
• Suggested targets: The 1.1700 area and beyond if bullish strength persists.

Why watch macro data?

The long-awaited U.S. jobs report can trigger unexpected volatility. Negative data may favor a bullish EUR/USD move.

S&P500: Bullish wave structure and key opportunities

The S&P500 is currently positioned for an upward move. The long was triggered near a key bottom, and Elliott Wave analysis points to potential advances toward 6900–7000.

Multi-timeframe strategies

• Day trading: Seek intraday pullbacks for new long entries.
• Swing trading: Hold positions targeting broader objectives, with stops below current support.
• Scalping: Capture quick moves in the main direction, always aligned with the broader trend.

Elliott Wave allows you to refine entry and exit points across any timeframe, ensuring technical coherence in analysis.

Key support & resistance:

• Immediate support: 6736
• Targets: 6900–7000

Crude Oil (WTI): Short opportunity and defensive management

Crude Oil presents a finishing-cycle structure, ideal for a short setup on the 5-minute chart. The trade seeks to capture downside moves toward lower support.

Execution steps:

• Secure break-even: Move stop to break-even once price advances in your favor to reduce risk.
• Main targets: Local low identified in the analysis session.
• Trailing stops: Maximize profits while protecting against sudden reversals.

Integrated analysis techniques

Validation comes not just from Elliott Wave, but also from robust support/resistance and exhaustions to time entries and exits.

Final thoughts: Risk management and macro factors

Market success relies not only on finding setups, but on professional risk management. Always consider economic releases (especially US jobs data), diversify strategies, and keep a daily watch on technical levels.