• 21 mins Big Banks Are Cashing In On Recession Fears
  • 2 hours Unpacking Biden's $2 Trillion Green Energy Plan
  • 17 hours The Investment Sector Defying A Global Pandemic
  • 18 hours Face Masks Become The Key To Economic Recovery
  • 22 hours Impact Investing Remains Strong Despite COVID-19 Market Downturn
  • 1 day Global Stocks Are Soaring On Fresh Vaccine Hopes
  • 1 day Rethinking Mining: A $10 Trillion Opportunity
  • 2 days Smart Investors Are Betting On This COVID-Proof Industry
  • 2 days Disney’s Digital Pivot Could Be Its Saving Grace
  • 2 days What Does Tesla's Million-Mile Battery Mean For Green Energy?
  • 2 days U.S.-China Tensions Are Reaching A Boiling Point
  • 2 days Gold Remains Strong Amid Increasing Economic Uncertainty
  • 3 days Morgan Stanley And Goldman Sachs Are Betting Big On This Budding Industry
  • 3 days Global Corporate Debt Soars To $9 Trillion
  • 3 days The Fed’s Slippery Slope
  • 3 days Precious Metals Pulled Ahead Of The Pack In The First Half Of 2020
  • 3 days Tesla Faces $20 Billion In Short Interest
  • 3 days China's Economic Recovery Remains Tepid
  • 3 days Silver Inches Closer To $20
  • 3 days The Secret Life Of Lithium
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

German DAX Is Expected To Go Lower

German DAX fell sharply down this summer so we see price in big wave IV) pullback which could reach much lower levels by the end of the year, but after wave (B) rally is complete which seems to be underway now to higher levels. Ideally price will hit 10800 before downtrend will continue into wave (C).

DAX Daily Chart

On the 4h chart, German Dax has turned higher as expected last week, after the market completed a five wave decline in wave (A) a week before. We know that after every five waves market will make a retracement in three legs. Well, notice that index already made three waves up from the low so we must be aware of a new bearish leg to the downside. Ideally market will find a top in the next few days, at current 10200 zone, but top can be confirmed only if price goes beneath 9907 bearish level.

DAX 4-Hour Chart

 


If you like our trading ideas, you can visit our website at --> http://www.ew-forecast.com
Want to receive more insights like these, free? We'd be happy to email them to you. Join our mailing list >> http://goo.gl/0KctEr

 

Back to homepage

Leave a comment

Leave a comment