In this Elliott Wave Live session from Monday, January 12 (3 PM CET), I focused on the main drivers for the week, the Trump versus Fed headlines, US CPI, and rising US Iran uncertainty, all of which can create a choppy start with Monday flows that often get retraced.
On DXY the wave structure still points lower as long as we stay below 100.40, and that matters because the current environment can keep the dollar weak even if stocks also pull back, so watch for that temporary positive correlation.
On stocks, SPX is at new highs but overlaps and slowing momentum are worth respecting, especially if Nasdaq stays stuck while Russell pushes higher, which can hint at rotation and late cycle behavior. In FX, EURUSD still looks like a late stage triangle with a wave E pullback, GBPUSD is near resistance with a better buy zone likely on a deeper retracement, while NZDUSD looks cleaner for a potential bottom if it breaks out of the corrective channel, and USDCHF still suggests one more leg down but with SNB risk.
Commodities stayed bid on uncertainty, with gold and silver strong and crude oil turning higher on geopolitics, while crypto remains vulnerable with Bitcoin still looking for another leg lower, which also keeps pressure on names like Coinbase and MicroStrategy.
If you missed webinar, watch the full recording for the charts and exact levels.
Grega
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