• 2 days America's Semiconductor Shortage Is Just Getting Started
  • 2 days America's Semiconductor Shortage Is Just Getting Started
  • 5 days The EU Begins Backtracking On China Trade
  • 6 days Americans Are Sick Of Unfair Taxation
  • 8 days No Jab, No Job: The New Hardline Policy of U.S. Employers
  • 10 days What’s Included In Biden’s $6 Trillion Economic Plan?
  • 11 days The “Great Car Comeback” Brightens Oil Demand Outlook
  • 12 days The 3 Most Profitable Covid-19 Vaccine Stocks
  • 14 days Beijing Launches Digital Currency To Break AliPay-WeChat Duopoly
  • 15 days The New Economic World Order After Covid-19
  • 19 days 3 Signals To Watch For A Stock Market Correction
  • 21 days Netflix Earnings Red Alert: Subscriptions Could Underwhelm
  • 22 days Wall Street Banks Are Back
  • 22 days Elon Musk’s SpaceX Scores Big Win Over Jeff Bezos’ Blue Origin
  • 23 days Which Country Is The World’s Largest Investor In Batteries?
  • 25 days Are Bitcoin’s Environmental Risks Overblown?
  • 25 days Why The Gold Rush Ran Out Of Steam
  • 28 days Coinbase IPO Explodes, But Fails To Keep Its Momentum
  • 28 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 29 days The Pandemic Has Culled The Middle Class
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On GBPJPY And German DAX

GBPJPY

Market did not move much in the last few hours, so we are waiting on US hours for some momentum and volume. On intraday chart below we are looking at GBPJPY that is trading south for the last few days, but price move is very slow and overlapping so it shows personality of a wave c which is usually slower than wave a. As such, downside can be limited this week on this pair, ideally around 136.50 where former wave four and 50% Fib. retracement can turn into a nice support.

GBPJPY, 1H

GBP/JPY 1-Hour Chart


German DAX

German Dax is higher today, but is showing a wedge pattern from around 9900 area that can be an ending diagonal if we consider that index is in fifth wave of an impulsive advance from 9290 low. That said, traders should be aware of a bearish turn, but ideally after 10315 is touched. Why 10315 matters? Because that was the last price before that big gap down occur after UK votes confirmed BREXIT.

German DAX. 1H

DAX 1-Hour Chart

 


Interested in our services ? Visit our page at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment