Elliott Wave Analysis

Elliott Wave Live: Dollar and Stocks Climb — Which Will Reverse First?Nov 12, 2024

The market seems to be on “steroids” after Trump’s victory last week, with strong risk-on flows and even the US dollar pushing higher despite the Fed cutting rates by 25 basis points last week. We’re also seeing Trump-related moves in cryptocurrencies, which rose significantly in last few days. It seems that this current sentiment may not be over just yet, but we could see some back-and-forth moves in the next sessions, because of the US CPI on Wednesday.

Looking at the Dollar there is an interesting push higher positive moves with stocsk, but question is how long this correlation can last, and which market can turn down first. Will this be dollar or stocks? Well, I see strong resistance on dollar at 107-108 for the end of this year.

I covered this and more in our webinar yesterday.

Grega

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USDollar Is Coming Into Resistance As Expected

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Market Shifts To Risk-Off: Correction For Bitcoin To 85-90k

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Forex

USDollar Is Coming Into Resistance As Expected

Read More

Funded Trader Program
Now 30% Off with the code: CHEER#30

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Read More

Learn Elliott Waves

Access to more than 7 hours of educational material

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Crypto

Market Shifts To Risk-Off: Correction For Bitcoin To 85-90k

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