The EUR rallied, USD fell at the end of last week after ECB press conference and worse than expected NFP figures. Meanwhile the US stocks and commodities rallied as bonds declined.
On S&P500 futures chart we can count five waves up from the lows, which is important structure for a bullish case. We are expecting minimum three waves up from the lows in this week, but before uptrend will resume we need a corrective wave b) move down to 1750/62 region where traders could be interested in long opportunities.
S&P500 (Mar 2014) 1h Elliott Wave Analysis
Written by www.ew-forecast.com
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