NQ_F: Forecasting Elliott Wave ((iii)) higher in Nasdaq futures

Elliott Wave Forecast Team ElliottWave-Forecast.com

In this blog we will see how we were able to forecast in advance the wave ((iii)) higher in NQ_F. Nasdaq has been one of the weakest Indices within 2022 and has been seeing a relief bounce rally as of recent. We will see below how here at Elliott Wave Forecast were able to forecast in advance the upcoming wave ((iii)) of C in NQ_F.

Let have a look on how we saw Nasdaq during 01.16.23. It had ended B leg at 10754.28 and since then has been showing 5 waves off these lows. Thus confirming C leg in progress. In the 1 hour cycle it is within wave i of (v) of ((i)).

NQ_F 01.16.23 1 hour London update chart

Now let’s check out our latest chart from 01.27.23. As seen it is within wave iii of (iii) of ((iii)). As we can see Nasdaq completed the pullback in wave ((ii)) and accelerated higher in wave ((iii)). With wave (i) and (ii) completed now it is trading within iii of (iii) of ((iii)). Near term, after it ends (iii) and pullback in (iv) it is expected higher in (v) of ((iii)).

NQ_F 01.27.2023 1 hour midday update

Learn more about NQ_F in near term and longer term cycles by becoming a member. Here at Elliott Wave Forecast we provide analysis of 78 instruments in which you get 4 daily updates. Asian, London, New York and NY Midday. Once a day you get a 4 hour update and once a week Daily and Weekly charts update. In addition you get the chance to attend or watch the recording of our Analysis Session and Live Trading Room. Learn how to trade the right side and learn how we analyze and see the market.

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

AUD/USD regains traction and extends the bounce toward 0.6950 in the Asian session on Friday. Fed Chair Warsh's comments reinforce the selling pressure on the US Dollar, allowing the pair to stretch higher. Warsh said that he remains committed to delivering price stability without giving away anything on future interest rate path.

USD/JPY falls in symc with USD, gives up 158.00 after Warsh's speech

USD/JPY has come under fresh selling pressure and gives up 158.00 in the Asian session on Friday amid the emergence of fresh US Dollar selling. Fed Chair Warsh's non-committal commentary on the future tightening path, weighs on the US Dollar and the pair.

Gold looks vacillating above $4,150

Gold alternates gains with losses below the key $4,200 mark per troy ounce on Friday. The yellow metal’s irresolute price action comes in response to a modest pullback in the US Dollar and a tepid recovery in US Treasury yields across the board.

Bitcoin steadies at $82,000: The five forces crushing the Uptober rally

Crypto markets have remained under pressure so far in October, with Bitcoin (BTC) sliding below $80,000 earlier this week before recovering to around $82,000 on Friday, as macroeconomic headwinds and cooling demand weigh on the market.

The Fed just got a second hot inflation number. Here's what the diesel signal is really saying

The Federal Reserve (Fed) faces a renewed inflation challenge after two consecutive reports showed price pressure intensifying across the US economy. September's Consumer Price Index (CPI) confirmed accelerating consumer inflation, while the Producer Price Index (PPI) revealed an even sharper rise in business costs. Behind both reports lies a common factor: energy prices.

Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.