Forex

Elliott Wave Live: SP500 Can Be Approaching Important SupportMar 4, 2025

Last week’s close was quite interesting—we saw unsuccessful negotiations between Trump and Zelensky, yet stocks still surprised and managed a strong rebound on Friday, but all of these gains were erased due to uncertainty because of Tramps tariffs and trade wars. So stocks are still in a pullback, with SP500 approaching some key levels, while USD is also down against some of major currencies, such as EUR, CHF and GBP.

Looking at the SP500 wave count, we see potential flat in wave four now trading close to a support, and if we really see a bounce here, I think dollar can fall much further, while US treausires are on the rise.
GH

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