• 3 hours Big Tobacco Just Can’t Catch A Break
  • 9 hours Saudi Arabia's Richest Are Being Forced To Buy Aramco
  • 1 day Silver Steadies Following Wild Week In Precious Metals Markets
  • 2 days Gold On The Rise After Fed Rate Cut
  • 2 days $5 Million Gold Toilet Vanishes
  • 2 days Oil Trader Loses $320 Million On Derivative Bets
  • 3 days S&P 500 Officially In An Earnings Recession
  • 3 days Miners Are Weathering The Trade War Storm
  • 3 days UK Credit Card Interest Rates Are Skyrocketing
  • 4 days From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 4 days Are Smart TVs Spying On Us?
  • 4 days Is Fossil Fuel Divestment A Waste Of Time?
  • 5 days A Russian Billionaire’s Space Quest To Save Humanity
  • 5 days Markets Take Breather As Consolidation Continues
  • 5 days Economic Woes Weigh On Copper Prices
  • 5 days World's Largest IPO At Risk Following Drone Strikes
  • 6 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 6 days What’s Behind The Silver Sell-Off?
  • 6 days The Retail Apocalypse Is Accelerating
  • 7 days The Top Tech Stocks Of The Year
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On German DAX And GBPUSD

German DAX

DAX fell down to our levels, into 10200-10230 area where Fibonacci support may send price back to the upside. Let's also keep in mind that leg down from 10768 is now in five waves so wave C can be in late stages of a flat correction in wave 4), which means that sooner or later price may bounce. Ideally we will see reaction back to 10400 in the next few sessions, which is also suggested by a triangle as this one normally occurs prior to the final wave in the larger pattern.

German DAX, 1H

DAX 1-Hour Chart


GBPUSD

GBPUSD is trading down with lower lows and lower swing highs from 1.3444 high but with overlapping price action so we think that decline is going to be temporary. We see it as a double zigzag unfolding in wave D) that belongs to a big triangle consolidation, so despite current weakness we need to consider another bounce next week, up into wave E) of four. Ideally short-term Fib. levels at 1.3100 will be the next support for the pair.

GBPUSD, 30Min

GBP/USD 30-Minute 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