• 3 days Ireland Balks At Biden’s Global Tax Plan
  • 6 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 10 days Facial Recognition Is Watching You
  • 11 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 11 days The Fed’s $3 Trillion Headache
  • 14 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 14 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 15 days Delta Variant Real Threat To Economic Recovery
  • 18 days JEDI Drama Continues With Microsoft Contract Cut
  • 20 days DiDi Shares Take a Beating From Chinese Regulators
  • 21 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 21 days Jobs Report Has Big Numbers, But Still Big Problems
  • 22 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 25 days Didi Just Went Public, And Uber Is Loving It
  • 26 days Islamic Finance On Track To Hit $3.7 Trillion
  • 27 days The Lumber Bubble Is Bursting
  • 31 days A New Entry In The Two Trillion Dollar Club
  • 31 days 3 Upcoming IPOs To Watch As IPO Market Rebounds
  • 33 days Welcome To The Used Car Bonanza
  • 34 days The Year Of The Retail Investor Keeps Getting Bigger
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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

Elliott Wave Analysis On German DAX And AUDUSD

German DAX

Markets did not move much in the last few hours, so we remain bearish on USD and bullish on stocks and metals for now. But as always we need to be aware of reversals. Well, DAX broke nicely to a new high, so we see index in a fifth wave now which suggests that upside is limited, but there is room for 10800 based on Fibonacci projections. However, we think that new turn down into a bigger three wave decline may occur by the end of the week. Maybe tomorrows ECB will already be a catalyst of a turn.

German DAX, 30Min

DAX 30-Minute Chart


AUDUSD

Commodity currencies are still one of the strongest since start of the week, especially against the buck. On Aussie we see price trading at a new high of the week, probably in wave five of of a new impulsive bullish turn. But we know that after every five waves correction will show up, so be aware of an a-b-c set-back down into wave B that would in ideal scenario look for a support at that broken trendline that may become a support.

AUDUSD, 1H

AUD/USD 1-Hour Chart

 


Interested in our services? We have a Special Offer: Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment