S&P 500 (June 2014) 1h Elliott Wave Analysis |
The USD remains in bearish mode against the most of the currencies with no major changes in the trend as Fed Chair Janet Yellen follows the script without any new surprises. The only small changes we see on USDJPY that is moving higher in corrective retracement supported by gains yesterday on the US stock market.
But on both markets, USDJPY and S&P we see resistance very close. On the S&P we are looking at a triangle now with sub-wave d) in progress that may stop around 1880 level, so ideally prices will turn down into wave e) to 1860 in the next couple of sessions or days.
Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service