Good morning traders. Today's focus will be on EURUSD and S&P 500 and their intra-day movement.
On the S&P 500 we can also see a corrective rally taking place, away from the 2430 region where also a five-wave decline had ended. Current rally can now be only temporary and may see limited upside near the upper channel line and from there make a new drop lower. For a confirmation, that the trend is changing we would need to see a breach below the former swing low of wave b around the 2437 level.
S&P500, 1H
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI