Explore TradingLounge's latest Elliott Wave Analysis for key indices including S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200. As most indices ride the wave iii) of A of (B), anticipate a positive trajectory in the upcoming trading sessions. However, brace for choppiness in the next upward movement, marked by a series of wave fours and fives.
Discover effective trading strategies, emphasizing risk management through the adjustment of stops and leveraging price level targets within the framework of Elliott Wave A analysis.
Video chapters
00:00 SP 500 (SPX)
05:32 NASDAQ (NDX)
07:52 Russell 2000 (RUT)
09:30 DAX 40 (DAX)
12:10 FTSE 100 UKX (UK100)
15:50 ASX 200 (XJO)
21:59 End
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EUR/USD struggles to build on Wednesday's gains and fluctuates in a tight channel near 1.0700 on Thursday. The US Dollar holds its ground following the Fed-inspired decline as market focus shifts to mid-tier US data releases.
GBP/USD holds steady above 1.2500 following Wednesday's rebound
GBP/USD stays in a consolidation phase slightly above 1.2500 on Thursday after closing in the green on Wednesday. A mixed market mood caps the GBP/USD upside ahead of Unit Labor Costs and Jobless Claims data from the US.
Gold price pulls back as market sentiment improves
The Gold price is trading in the $2,310s on Thursday after retracing about three-tenths of a percent on reduced safe-haven demand. Market sentiment is overall positive as Asian stocks on balance closed higher and Oil prices hover at seven-week lows.
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Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.