US Dollar and Stocks Soar: Elliott Wave Signals Point to Possible Turns
2024.11.12 11:10
The market seems to be on “steroids” after Donald Trump’s victory in the US Presidential elections last week, with strong risk-on flows and even the pushing higher despite the cutting 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 on Wednesday.
Looking at the Dollar there is an interesting push higher positive moves with stocks, 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.
