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By tradinglounge · Posted
UNH Elliott Wave Analysis Trading Lounge Daily Chart, United Health Group Inc., (UNH) Daily Chart UNH Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute wave {iii}. DIRECTION: Upside in Minute {ii}. DETAILS: As we seem to have found support on TL5 at 500$, we are looking for upside resumption, which could take us to TL8 in the long term. Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction UNH Elliott Wave Analysis Trading Lounge 4Hr Chart United Health Group Inc., (UNH) 4Hr Chart UNH Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (i) of {iii}. DIRECTION: Wave iii of (i). DETAILS: Looking for a completion of wave (i) to then pullback in (ii) and eventually looking for additional longs. The Elliott Wave analysis for UnitedHealth Group Inc. (UNH) provides a technical forecast for its stock behavior on the Daily and 4-hour charts. This detailed analysis aims to guide traders and investors through the expected price movements influenced by UNH’s wave patterns. * UNH Elliott Wave Technical Analysis – Daily Chart* On the daily chart, UNH is currently in a Minute wave {iii} of its impulsive, motive wave structure, signaling robust upward potential. The stock found support at the $500 mark, along the critical TL5 (Trend Line 5). This support suggests a bullish resumption might be forthcoming, with the potential to reach higher trend line levels like TL8 over the long term. * UNH Elliott Wave Technical Analysis – 4H Chart* Drilling down to the 4-hour chart, UNH is advancing through Wave (i) of Minute {iii}. The current structure indicates that Wave (i) is nearing completion, and a subsequent pullback in Wave (ii) is expected. This pullback should set the stage for further bullish activity as the stock progresses into Wave iii of (i). Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
Asian shares steadied on Thursday as solid Chinese trade data showed domestic demand in the world's second-largest economy is picking up. The yen also stabilised after three days of declines, as Japan reiterated potential for currency intervention. Investors are awaiting the Bank of England's interest rate decision later today, watching for prospects of a June rate cut after Sweden's Riksbank unexpectedly lowered rates, highlighting Europe's divergence from the hawkish US Federal Reserve. The MSCI Asia-Pacific index rose 0.1%, and Hong Kong's Hang Seng added 1.2%, boosted by China's April imports jumping 8.4% year-on-year, beating forecasts. The Japanese yen steadied at 155.55 per dollar after falling for three sessions, as authorities reiterated readiness for currency intervention. However, Japan's real wages fell 2.5% in March, limiting scope for aggressive policy tightening. -
By tradinglounge · Posted
EURUSD Elliott Wave Analysis Trading Lounge Day Chart, Euro/U.S.Dollar(EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:red wave 3 POSITION:blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS:red wave 2 of blue wave 1 looking completed at 1.06494, now red wave 3 of 1 is in play . Wave Cancel invalid level: 1.06494 The EUR/USD Elliott Wave Analysis for the Daily Chart shows that the Euro against the U.S. Dollar is currently in an impulsive wave pattern, indicating that the overall market trend is characterized by strong directional movement. ### Function The function is "Trend," suggesting that the market is moving in a clear direction, which aligns with a larger wave pattern, typically indicating significant momentum in one direction. ### Mode The mode is "impulsive," pointing to a strong, direct market movement that typically represents the larger driving force behind the trend. Impulsive waves are often characterized by rapid price changes and high volatility. ### Structure The structure is described as "red wave 3," indicating that the market is in a strong upward or downward movement, often seen as the main thrust within a broader wave structure. This wave usually sees significant price changes in a relatively short time frame. ### Position The position is "blue wave 1," indicating that the market has completed a prior wave sequence and is now in the first sub-wave of the next structure. This stage is crucial for confirming the direction of the impulsive move. ### Direction for the Next Lower Degrees The direction for the next lower degrees points towards "red wave 4," suggesting that once the current wave concludes, there could be a corrective phase before resuming the trend. This stage often sees a retracement or consolidation in the market. ### Details The details section indicates that "red wave 2 of blue wave 1" seems completed at 1.06494, suggesting that the current corrective phase has ended or is nearing completion. Now, "red wave 3 of 1" is in play, which typically implies a strong directional movement. The wave cancellation or invalidation level is set at 1.06494, marking a critical point where the current wave structure could be invalidated, leading to a reevaluation of the wave pattern. In summary, the EUR/USD Elliott Wave Analysis for the Daily Chart highlights an impulsive structure with "red wave 3" in progress, suggesting that the market is in a strong trend. The completion of "red wave 2" and the commencement of "red wave 3 of blue wave 1" signal a significant market movement. The wave cancellation level at 1.06494 serves as a key point to watch, as it indicates where the current wave pattern could be invalidated, potentially requiring a new analysis. Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction EURUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, Euro/U.S.Dollar(EURUSD) 4 Hour Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE:black wave 2 POSITION:red wave 3 DIRECTION NEXT LOWER DEGREES: black wave 3 DETAILS:black wave 2 of or red wave 3 is in play and looking near to end . Wave Cancel invalid level: 1.06494 The EUR/USD Elliott Wave Analysis for the 4-Hour Chart suggests that the Euro against the U.S. Dollar is in a corrective phase, with the potential for an impending trend change or a continuation of the existing pattern. ### Function The function of the current analysis is identified as "Trend," indicating that the overall market movement is in line with a larger trend, albeit in a corrective stage. ### Mode The mode is described as "corrective," signifying that the existing market pattern may involve complex wave structures, typically seen during periods of retracement or consolidation within a broader trend. ### Structure The structure is noted as "black wave 2," suggesting that the second wave within a broader wave sequence is in progress. This is a critical phase, often representing a correction or retracement after a more significant movement in the market. ### Position The current position is "red wave 3," which indicates a potential transition within the broader wave structure. This phase is crucial as it might signal a trend reversal or continuation, depending on how the market reacts at this level. ### Direction for the Next Higher Degrees The next lower degrees point towards "black wave 3," indicating that once the current corrective phase concludes, there could be a significant movement in the market's primary direction, typically suggesting an upward shift. ### Details The details section describes that "black wave 2 of red wave 3" is either in play or nearing completion. This suggests that the corrective phase is at or approaching its end, hinting at a potential shift in market direction. The wave cancellation or invalidation level is set at 1.06494, marking a critical point where the current wave pattern could be invalidated, necessitating a reevaluation of the analysis. In summary, the EUR/USD Elliott Wave Analysis for the 4-Hour Chart outlines a corrective structure with "black wave 2" in progress, indicating a possible end to the correction and a subsequent shift in the market. The wave cancellation level at 1.06494 is crucial, as it signifies the point at which the current pattern may require re-evaluation. As "red wave 3" reaches its conclusion, the focus shifts to "black wave 3," pointing to potential new trends or a continuation of the existing pattern. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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