Weekly Trading Plans: EURUSD - SPX500 and DX [Video]

Juan Maldonado Elliott Wave Street

The global markets are suffering from high inflation, and increasing the interest rate is the remedy to push consumer prices lower. Still, the cost of higher interest rates decelerates the economy and causes stock markets to move downward. The Elliott Wave theory is practical under any market cycle. It provides a price structure based on past cycles to get high-probability scenarios.

This week we are looking at the EURO to continue lower, same with S&P500, and the US Dollar is expected to move higher. On the free weekly analysis video, find all the details to anticipate the market movements.

Author

Juan Maldonado

Elliott Wave Street

Juan Maldonado has a University degree in Finance, and Foreign trade started his trading career in 2008. Since 2010 has been analyzing the markets using Elliott Wave with different strategies to spot high probability trades.

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.