April 20, 2024

Economic Digest 03/15/2020

The dollar/ruble pair rose last week and closed at 72.5975. On Friday, trading volume was thirdthe week was the highest since March 2014.In the medium term, the pair may be in wave 2 of a terminal diagonal triangle with 86, which is C in a flat. Options for long-term markings are here. The net long speculative position in ruble futures fell by 1,200 from 27,700 to 26,500.  The RTS Index declined and closed at 991.69, there is every reason to believe that it is already in wave E of the triangle since 2008 (long-term marking here, medium-term & #8211; here). The Russian government bond index (RGBI-tr) also fell and closed at 540.6. For more details, see the “Results of the Week” program.

World markets

OilBrent broke the December 2018 low, sooptions with a flat correction are no longer necessary, the impulse that ended then is entering. Here the correction to it can be a triangle. In WTI the picture is somewhat different, a triangle has not formed there, so it’s difficult to say anything definite, most likely the decline will continue to levels around 20. The net volume of long speculative positions last week fell by 1,000, from 388,400 to 387,400. Quantity operating towers in the US increased from 682 to 683. The week closed WTI - 32.93, Brent - 34.97. At the end of Thursday, the number of bulls in the market was 10%.

Euro / dollar(EUR/USD) completed wave C of a flat correction withMarch 2015 (the marking can be viewed here, the dollar index – here), respectively, wave X in the long-term marking, since the level of 1.21545 was broken (previously this signal was given by the dollar index, breaking the corresponding level), and is moving towards parity. Now the pair is in the fifth wave of this movement, which is KDT. Closing of the week - 1.11. At the end of Thursday, the number of bulls in the market was 50%.

Futures on the S&P indexThe latest wave of growth, which is partThe corrective pattern (wave B of a triangle or flat) is completed and now wave C is underway. While I’m waiting for its continuation, possible targets can be located up to 1750. Closing the week - 2696. At the end of Thursday, the number of bulls in the market was 5%.

Goldis in wave B in a circle in the long-termmarkup (there is a small chance that you have already finished it). The metal broke through 1366.08, therefore its wave B (or X) was a triangle, and it is already moving in wave C (medium-term markings here). Closing the week - 1528.69. At the end of Thursday, the number of bulls in the market stood at 61%.

Bitcointhere is every reason to believe that the impulse from the low of the year before last was completed on June 26, and a correction to it has taken place (or is in progress).

RUH666 (ancestor of Rüchism)

Free access to the US Stocks section of the Financial Forecast at elliottwave com for March 2020

Now the handbook for wave enthusiasts, “The Elliott Wave Principle,” can be found in free access here

And don’t forget to subscribe to my telegram channel and YouTube channel

Free Guide “How to Find High Potential Trading Opportunities Using Moving Averages”

If you find the article interesting, put pluses and add to favorites.