#EURUSD AND #SP500 Wave Analysis (27 April 2022)

Posted by Clara Mellor on 10:53 with No comments

 

EURUSD Wave Analysis

  • EURUSD broke long-term support level 1.0640
  • Likely to fall to support level 1.0400

EURUSD currency pair under the strong bearish pressure after the price the long-term support level 1.0640 (the previous yearly low from the start of January).

The breakout of the support level 1.0640 accelerated the active impulse waves 5 and (3).

EURUSD currency pair can be expected to fall further toward the next support level 1.0400 (target for the completion of the active impulse waves 5) .

S&P 500 Wave Analysis

  • S&P 500 reversed from support zone
  • Likely to rise to resistance level 4250.00

S&P 500 index recently reversed up from the support area lying located between the long-term support level 4150.00 (which has been reversing the price from last June) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the earlier sharp intermediate ABC correction (2).

Given the strength of the aforementioned support zone – S&P 500 index can be expected to rise further toward the next resistance level 4250.00.


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