• 8 hours From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 13 hours Are Smart TVs Spying On Us?
  • 15 hours Is Fossil Fuel Divestment A Waste Of Time?
  • 1 day A Russian Billionaire’s Space Quest To Save Humanity
  • 1 day Markets Take Breather As Consolidation Continues
  • 2 days Economic Woes Weigh On Copper Prices
  • 2 days World's Largest IPO At Risk Following Drone Strikes
  • 2 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 2 days What’s Behind The Silver Sell-Off?
  • 3 days The Retail Apocalypse Is Accelerating
  • 3 days The Top Tech Stocks Of The Year
  • 3 days America’s Workforce Elderly Workforce To Double By 2028
  • 4 days Toyota Tests Solar-Powered Prius
  • 4 days Why The Gold Rally Flatlined
  • 5 days The Uranium Sector Can’t Catch A Break
  • 5 days Upcoming Fed Meeting Has Investors On Edge
  • 6 days Global Gold Sector Outlines Responsible Mining Principles
  • 6 days China’s Giant Vampire Fund Loses $120B
  • 7 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 7 days Savvy Investors Are Betting Big On This Little Data Company
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 EURCAD

German DAX

DAX has turned lower, meaning it can be ideally heading down for wave c-circled that belongs to a flat correction in wave 2 of a higher degree. In a flat pattern you will typically see that price will retrace and then bounce from end point of wave a. In our case that comes in at 10560, but previous swing high and 38.2% are slightly lower, near 10500. As such, 10560-10500 area can be like a magnet for the short-term moves from where we will expect a bounce higher this week.

German DAX, 1H

DAX 1-Hour Chart


EURCAD

Any gaps will very rarely stay open, so despite break to a new swing low on the EURCAD, we assume that pair can make a complex correction with a possible flat pattern in wave 2. As such, 1.4760 resistance can be tested before strong wave down unfolds; ideally wave 3.

EURCAD, 1H

EUR/CAD 1-Hour Chart

A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern.

Basic Flat Pattern:

Idealized Elliott Wave Flat Pattern

 


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