Elliott Wave Analysis On German DAX And NZDUSD
DAX is advancing to lower lows after completing wave C of B) at 10375. We might see a bit more upside around current levels, but only to trace out minor wave 2 after which we should then advance lower to form a completed impulse from recent highs.
German DAX, 1H
On the NZDUSD pair we are observing an idea of a flat correction, that may unfold in the wave 2 pullback, with waves A) and B) already visible, while wave C) is midway through its completion. We think that last leg C) may reach levels around 0.685-0.692, before turning again to the dowsnide. Some Fibonacci ratios like 38.2, 50.0 or 61.2 could react as a resistance and a turng point lower.
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