USDCAD and German DAX: Elliott Wave Analysis

By: Gregor Horvat | Thu, Feb 12, 2015
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USDCAD has turned nicely lowest recently, and seems like top for wave B) could already be in place. We however need a five wave decline from 1.2696 to confirm a change in trend. If market will stay bearish today and close somewhere beneath or around 1.2500 then we could be considering shorts soon.

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart

Stocks are higher today with DAX nearly 200 points higher. Notice market found bullish momentum after a broken trendline which now confirms end of wave 4. Current leg is also very strong today so we believe that price is in wave (iii) of 5 that will be targeting new highs, possibly even 11100 -11200 area in sessions ahead.

DAX (Mar 2015) 1h Elliott Wave Analysis

DAX (Mar 2015) 1-Hour Elliott Wave Analysis Chart




Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website:

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