Elliott Wave Analysis On German DAX And NZDUSD

By: Gregor Horvat | Thu, Jun 2, 2016
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German DAX

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

DAX 1-Hour Chart


NZDUSD

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.

NZDUSD, 4H

NZD/USD 4-Hour 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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