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USD Index, S&p500 and DAX: All Looking Higher

Today, it’s going to be big day for the markets as the FED may deliver higher rates. Technically USD may see higher prices and stocks as well based on the current intraday patterns on USD Index and E-mini S&P500.

On the USD Index we are observing a bullish pattern after the five wave rally last week from 96.48, followed by a three wave set-back from 97.50. It can be wave B/2 so ideally the market will turn up today, but because of the FED and different possible scenarios we want to see a break above 97.32 to confirm a  third leg of recovery.

USD Index, 1H

On stocks, we are looking higher as both S&P500 and DAX are showing a completed contra-trend moves in wave four. S&P500 made a flat and DAX a triangle, so the markets can continue higher to 2450/60 and 12950/13000.

S&P500, 1H

German Dax, 1H

Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on 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 Ew-forecast he helps clients and educates them about the Elliott wave principle 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. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!