Elliott Wave Analysis: USDCHF and SP500 Intraday
USDCHF has met our projected target at 0.9020 that we highlighted it earlier today. Based on sharp rally from 0.8977 we see that one as wave iii) of a five wave structure. Ideally that speaking to 0.8998 was wave iv) so more gains may follow in the next 24 hours, up to 0.9040.
USDCHF 1h Elliott Wave Analysis
Traders, welcome back. Both the S&P and USD are higher at the start of the US session, despite lower US CPI figures. The E-mini S&P Futures is now at new swing high, trading around 1975 at the moment following a perfect reversal from 1960 level that we highlighted it yesterday. The wave count now shows possibility for a wave 3 in progress which means that uptrend may extend even to 1990 in sessions ahead, while 1964 should stay in place. Existing Home Sales next, at 14:00GMT.
S&P500 (September 2014) 1h Elliott Wave Analysis
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