S&P 500, NASDAQ, ASX: Elliott Wave analysis and trade strategy for global market indices

The EUR/USD pair gains ground to around 1.1625, snapping the four-day losing streak during the early European session on Monday. The US Dollar faces some selling pressure against the Euro after U.S President Donald Trump threatened escalating tariffs on eight European nations that have opposed his plan to take Greenland. US markets are closed on Monday as the country observes Martin Luther King Jr. Day.

The GBP/USD pair gains traction to around 1.3400 during the early Asian session on Monday. The US Dollar weakens against the Pound Sterling amid US President Donald Trump's latest tariff threats against Europe over ‌Greenland. The US markets are closed in observance of the Martin Luther King Jr. Day holiday on Monday.

Gold catches aggressive bids at the start of a new week and jumps to the $4,700 neighborhood, or a fresh all-time peak, during the Asian session amid the global flight to safety. US President Donald Trump threatened to impose new tariffs on eight European countries that opposed his plan to acquire Greenland. 

Meme coins, such as Dogecoin, Shiba Inu, and Pepe, extend the decline from last week, with a roughly 3% drop on Monday. The meme coins trade below the crucial moving averages, aiming for the immediate support to potentially reset the momentum.

What’s more surprising: the Fed Chair addressing the world by speaking directly to camera to accuse the White House of undermining the central bank’s independence - or markets barely reacting?

Dash extends its rally, reaching an intraday high of $96.85 despite the broader crypto market correcting. Retail interest in DASH explodes as futures Open Interest soars to $165 million.