• 4 hours Federal Reserve Downgrades U.S. Growth And Cuts Rate Hikes
  • 7 hours Disney Beats Out Comcast In $71.3B Mega-Merger
  • 10 hours The Feds Continue To Prop Up Equities Markets
  • 12 hours Bejing's Sway In South China Sea Is Fading
  • 1 day Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 1 day Airbnb In Acquisition Mode Ahead Of IPO
  • 1 day Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 1 day Champagne Sales Slow As European Economic Worries Grow Louder
  • 2 days Putin Signs “Digital Iron Curtain” Into Law
  • 2 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 2 days Tesla Looks To Jump Into Indian Market
  • 2 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 3 days Homeowners Experiment With Risky New Investment Trend
  • 3 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 3 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 3 days Ford CEO Gets Raise After Massive Layoff Round
  • 4 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 4 days Where To Look As Gold Miners Inch Higher
  • 5 days Google Faces Billions In Fines From European Regulators
  • 5 days The Energy Industry Has A Millennial Problem
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On German DAX And EURUSD

German DAX

On the intraday chart of German DAX, we are observing an idea of a complex correction, that is placed in wave 4. This correction is called a triangle pattern, which is a continuation pattern, meaning that after it's finished, price may continue to go short, ideally reaching towards 9579-9700 region, where some Fibonacci projection levels, can react as a support and a turning point into higher levels.

For now wave e, the last leg of a complex correction pattern is still missing, so we would not be surprised if price bounce higher to around 9959 area and then make a reversal lower.

German DAX, 1H

German DAX 1-Hour Chart


EURUSD

EURUSD is still trading to the downside, now at 1.11800 area, where our Fibonacci ratio of 261.8 can come in play, and react as a support and a turning point into wave 4. As we know wave four usually becomes more complexed than wave two correction, so we would not be surprised, if prices slows down for a couple of days and then continues lower. After wave 3 is completed, wave 4 can touch levels around 1.12349 region, where formal wave iv, can act as a turning point.

EURUSD, 1H

EUR/USD 1-Hour Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment