"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 3 hours The $85B Merger That Could Change The Media Forever
  • 4 hours Why Are Governments Creating Their Own Cryptocurrencies?
  • 5 hours How Debt Cycles Impact Gold
  • 6 hours Investors Up the Ante In $1.5B Uber Loan Deal
  • 8 hours Are Gold Miners Poised For A Breakout?
  • 10 hours Is The "Crypto Winter“ Over?
  • 12 hours China Says It Doesn’t Fear Trade War
  • 1 day Twitter CEO: The World Will Have A Single Currency
  • 1 day Asian Currency Correction Could Signal Looming Crisis
  • 1 day Best Buy Drops Telecom Giant Over National Security Threat
  • 1 day The Pros And Cons Of The Federal Interest Rate Hike
  • 1 day Good News For Gold Bulls Despite Interest Rate Hike
  • 1 day Trump Hits China With $50 Billion In Tariffs
  • 1 day Russian Gold Reserves Hit Record High Amid Rising Tensions With West
  • 1 day Stocks Pull Back Following Interest Rate Hike
  • 2 days Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 2 days Elon Musk’s $2.6 Billion Tesla Challenge
  • 2 days Tech Giants Could Be First Victims Of U.S. Trade War
  • 2 days Dow Gains Despite Fed’s Rate Hike
  • 2 days The Biggest Threat To Chinese Oil Futures
Economists Polarized On Trump’s Tariff Plan

Economists Polarized On Trump’s Tariff Plan

Economists are polarized on Trump’s…

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…

More Info

Elliott Wave Analysis On German DAX And NZDUSD

Good day traders to all of you who are here for the US updates.

FX market did not move much in European hours, despite a break higher on German Dax which managed to move above August highs, so looks like we can see more upside. On 15min chart, we also see a nice strong upward reaction that looks like an impulse that can extend up to 10850 area after current wave four pullback is complete. As we can see, Index is in clear bullish impulse which should continue as long as 10714 invalidation level is not breached.

German DAX, 15Min

DAX 15-Minute Chart


NZDUSD has turned strongly to the upside last week, with price that moved slightly above the resistance line which can suggest that we could see more upside if we consider that turn up from the 0.7034 mark was made in impulsive fashion. We now see that leg up as first wave A)/1) as part of a minimum three wave advance that can take price back to 0.7300 area, before we may turn bearish again. But as things stand at the moment, we see a short-term bullish cycle.


NZD/USD 4-Hour Chart


Interested in our services? We have a Special Offer: Get 14 Days 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

Sign Up For The Safehaven Newsletter