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We can see some dollar recovery for the last few sessions as stocks found a support yesterday during the US hours as discussed in our past updates. We see EURUSD turning nicely down from our Fib. resistance levels where the pair might have completed a five-wave structure from the 1.0760 region, so a new minimum three wave drop back to 1.0800 gap can be coming. Another reason for an intraday weakness on this pair is a broken hourly trendline that also indicates a complete rise.


As EURUSD turns south, we see stocks recovering after a five wave drop from 2390 on E-mini S&P500. It’s a structure that suggests a bounce in minimum three waves. For now, we see only one leg up, so more upside is expected to unfold an a-b-c move that may retrace back to 2358.

S&P500, 1H