Elliott Wave Analysis: USDCHF and SP500 Intraday

By: Gregor Horvat | Tue, Apr 1, 2014
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USDCHF reached new swing low that can be wave five in leading diagonal that represents first leg of three waves down. A short-term corrective rally should follow then in three legs before new leg down occurs. Short-term critical resistance is at latest high; bearish view below that price.

USDCHF 1h Elliott Wave Analysis

USDCHF 1-Hour Elliott Wave Analysis Chart

E-mini S&P500 did not move much in the last couple of hours, but this may change today during the US trading session as market is running up in to 1870 technical resistance level. I have seen few times market reversing down from that level last week as shown on the cash market chart where swing zone is 1870/75. I would not be surprised to see anther leg down. But sooner or later market will breakout, that's for sure, just not sure if we are already there.

S&P500 (June 2014) 1h Elliott Wave Analysis

S&P500 (June 2014) 1-Hour Elliott Wave Analysis Chart

S&P500 Cash market

S&P500 Cash Market Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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