Commodites

Elliott Wave Live: Stock profit-taking ahead of summer?Jun 24, 2024

Finally, I’m back from Germany after watching the Euro 2024 game between Slovenia and Serbia, but big match for us is tomorrow, between Slovenia and UK!

Regarding the FX markets, we haven’t seen much volatility last week, despite the Bank of England’s decision to leave rates unchanged following lower inflation figures of 2%. On the other hand, Swiss National Bank surprised by cutting rates by 25 basis points, leading to the CHF finishing the week lower, especially after on Friday, we saw a dollar rally as stocks came down due to strong manufacturing and services PMI figures, alongside profit-taking ahead of summer. This suggests the possibility of lower or more sideways price action on equities, which can then keep the dollar trapped in a large range, which I discussed last week.

I covered this and more in our webinar today. You can watch the recording below.

Grega

SP500 Elliott wave chart

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

Silver Slowed Down Within A Corrective Structure

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close