Elliott Wave Analysis

Elliott Wave Live: US CPI and ECB weekSep 9, 2024

Hey, traders, hope everyone had a nice weekend!

It’s going to be an important week, with the focus on the U.S. CPI inflation data, which could provide more clues on whether the Fed will go for 25 or even 50 basis point cut. Keep in mind that Friday’s jobs data showed a fairly “okay” number, so it may not be enough to confirm either 50 or 25 basis points. Perhaps a balance between inflation and jobs would make 25 basis points more appropriate anyhow, especially if inflation y/y comes out beween 2.6-2.9%.

On Friday, after the NFP report, the dollar found some support during the U.S. session, and as a result, the stock market moved to the downside. However, if you look at the Dollar Index (DXY), there’s still a potential wave four correction going on, while the S&P 500 could be looking for support around the 61.8% retracement level. So, some support may not be far away, but the Dollar Index will depend heavily on the euro this week, especially with the ECB decision and expected rate cuts.

DXY vs SP500

Commodity

Gold Remains Bullish, Supported By China Stimulus

Funded Trader Program

The funded trader program is online trading on a demo account where traders can prove their trading skills on different account size. If they are successful based on specific rules then traders will be funded on a real trading account and make money from the profits.

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.

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