USDCAD and German DAX Moving Towards New High

By: Gregor Horvat | Thu, May 21, 2015
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Structure on German Dax is pointing to new highs as already mentioned this morning as decline from the high unfolded in three waves and found a support close at former wave four, near 11753. Based on minimum expectations we see room for rally up to 11950 region.

DAX (June 2015) 30min Elliott Wave Analysis

DAX (June 2015) 30-Minute Elliott Wave Analysis Chart

USDCAD tested our upper support of a previous fourth wave range, neat 1.2160 from where we can see nice turn up now, so looks like that price is headed higher within wave (v) towards 1.2300 projected zone.

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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 TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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