Dow Futures (YM) eyeing last upside push in wave five, concluding April 2025 cycle [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

The short-term Elliott Wave outlook for Dow Futures (YM) indicates that the cycle from the April 2025 low continues as a five-wave impulse. As shown in the 1-hour chart, wave (3) of this impulse peaked at 47,323. The subsequent wave (4) pullback unfolded as a zigzag Elliott Wave structure. From wave (3), wave ((i)) declined to 47,014, followed by a wave ((ii)) rally to 47,162. Wave ((iii)) dropped to 46,693, wave ((iv)) rose to 46,938, and wave ((v)) concluded at 46,507, completing wave A. Wave B bounced to 46,883, and wave C extended lower to 45,391, finalizing wave (4) in the higher degree.

The Index has now turned higher in wave (5), but it must break above wave (3) at 47,323 to rule out a double correction. From wave (4), wave ((i)) reached 46,467, with wave ((ii)) pulling back to 45,663. Wave ((iii)) advanced to 46,743, wave ((iv)) dipped to 46,395, and wave ((v)) completed at 46,915, concluding wave 1. A wave 2 pullback is currently underway, correcting the cycle from the October 11 low before resuming higher. As long as the pivot low at 45,391 holds, expect the pullback to find support in a 3, 7, or 11-swing sequence, setting the stage for further upside.

Dow Futures (YM) – 60 minute Elliott Wave technical chart

YM – Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

EUR/USD: US Dollar comeback in the makes?

The US Dollar stands victorious at the end of another week, with the EUR/USD pair trading near a four-week low of 1.1742, while the USD retains its strength despite some discouraging American data released at the end of the week. The pair edged higher on Friday, after the United States Supreme Court ruled against President Donald Trump's tariffs, although the advance is not enough to change the latest USD flow.

GBP/USD braces for more pain, as 200-day SMA tested

GBP/USD broke the previous week’s consolidation to the downside, as sellers returned with pomp, smashing the major back toward the levels last seen in late January. The pair tested bids below the 1.3450 barrier as the US Dollar strength largely played out throughout the week, while the Pound Sterling stepped back on expectations of divergent monetary policy outlooks between the Bank of England and the US Federal Reserve.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.

Week ahead: Markets brace for heightened volatility as event risk dominates

Dollar strength dominates markets as risk appetite remains subdued. A Supreme Court ruling, geopolitics and Fed developments are in focus. Pivotal Nvidia earnings on Wednesday as investors question tech sector weakness. Yen and aussie diverge; both pound and euro could recoup their losses.

Broadening drivers of growth: Unpacking GDP and looking ahead

This week’s data delivered a familiar theme with an important twist. The U.S. economy continues to be shaped by powerful forces in high-tech and AI-related investment, but recent releases suggest the growth story may finally be broadening. At the same time, trade flows are moving in a less supportive direction, reminding us that not all parts of the economy are pulling in sync.

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.