• 680 days Will The ECB Continue To Hike Rates?
  • 680 days Forbes: Aramco Remains Largest Company In The Middle East
  • 682 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,082 days Could Crypto Overtake Traditional Investment?
  • 1,086 days Americans Still Quitting Jobs At Record Pace
  • 1,088 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,091 days Is The Dollar Too Strong?
  • 1,092 days Big Tech Disappoints Investors on Earnings Calls
  • 1,093 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,094 days China Is Quietly Trying To Distance Itself From Russia
  • 1,095 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,099 days Crypto Investors Won Big In 2021
  • 1,099 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,100 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,102 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,102 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,106 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,106 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,107 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,109 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  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