Elliott Wave review: FX, stocks and Bitcoin [Video]

Gregor Horvat Wavetraders

Stocks finished strong on Friday, so looks like risk-on is here, but we are still waiting for USD and Yields to come lower. For now thats not happening yet, but maybe bears on USD and Yields will do the catch-up with a slight delay.

There are a few important economic data that can impact the FX markets, such as BOJ, ECB, US advance GDP and US Core PCE Price Index. Alos Kiwi CPI tomorrow

We will see how market will respond, but for now we see USD index moving into resistance, so sooner ro later wave C can come to an end, ideally near 104-104.30. When this rally is done, thats when other currencies will come back in play, such as EUR and GBP that are already doing quite well, and then of course I would be looking for AUD and NZD strength which are trading down into some attractive supports.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

EUR/USD bounces off lows, back to 1.1860

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GBP/USD rebounds to 1.3660, USD loses momentum

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