• 8 hours Jeff Bezos Doubles Down On Space Colonization Ambitions
  • 14 hours Gold Mining Stocks Stuck In Limbo
  • 1 day Executive Order Targets Huawei Over Espionage
  • 2 days Why Now May Be The Best Time Ever To Hold Gold
  • 2 days Fake News Sinks Shares In UK-Based Bank
  • 2 days De Beers To Build $468 Million Diamond Recovery Ship
  • 3 days Moody's: Turkey Faces Possible Credit Downgrade
  • 3 days Tesla's Solar Sales Are Slipping
  • 3 days Auto Industry To Get Temporary Tariff Relief
  • 3 days Welcome To The World’s Biggest Free Trade Area
  • 4 days Central Banks Are Stockpiling Gold At The Fastest Rate In Half A Decade
  • 4 days U.S.-China Impasse Threatens Rare Earth Trade
  • 4 days Wall Street Bears $1 Trillion Brunt Of Trade War
  • 4 days Mobile Sports Betting Isn’t Quite Minting Millionaires Just Yet
  • 5 days The Marijuana Industry’s Shocking Secret
  • 5 days A Generational Shift Is Quietly Unfolding In The Mining Industry
  • 5 days Pentagon To Pay $6 Billion To Help Build Border Wall
  • 5 days Beijing Backlash: Stocks Slammed, Gold Boosted
  • 6 days Market Sentiment At Its Lowest In 10 Months
  • 6 days Trader Compares Current Market Environment To 2007
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  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