Elliott Wave Analysis On German DAX And USDJPY

By: Gregor Horvat | Mon, Feb 29, 2016
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German DAX

German DAX has filled one gap on Friday near 9570 and also the on right now at 9460 so looks like that index could see some weakness soon. Based on recent price swings, we would not be surprised to see wave c move down to around 9000 area to filled the gap from Feb 15 where we would expect a strong turn higher.

German DAX, 1H

DAX 1-Hour Chart


USDJPY

There was a nice five wave drop on USDJPY from 114.00 level and only three leg-up move in the last few hours so looks like that bears are going to send price much lower. We anticipate further weakness in wave a), possibly to 112.00 at the start of the week.

USDJPY, 15 Min

USDJPY 15-Minute 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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