• 5 hours Can The British Pound Overcome Brexit?
  • 11 hours Is A Gold Breakout Near?
  • 1 day Federal Reserve Downgrades U.S. Growth And Cuts Rate Hikes
  • 1 day Disney Beats Out Comcast In $71.3B Mega-Merger
  • 1 day The Feds Continue To Prop Up Equities Markets
  • 2 days Bejing's Sway In South China Sea Is Fading
  • 2 days Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 2 days Airbnb In Acquisition Mode Ahead Of IPO
  • 2 days Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 3 days Champagne Sales Slow As European Economic Worries Grow Louder
  • 3 days Putin Signs “Digital Iron Curtain” Into Law
  • 3 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 3 days Tesla Looks To Jump Into Indian Market
  • 4 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 4 days Homeowners Experiment With Risky New Investment Trend
  • 4 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 4 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 5 days Ford CEO Gets Raise After Massive Layoff Round
  • 5 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 5 days Where To Look As Gold Miners Inch Higher
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: GBPUSD and DAX

GBPUSD

GBPUSD is falling strongly down from 1.2568 which looks like an impulsive reaction so it's likely part of an even more complex decline as we see current leg as wave C of Y). However, despite bearish moves the whole structure of February has a corrective look so we think that downside can be limited, but bounce will likely happen from beneath 1.2347 low. Based on Fib. levels we see 1.2250-1.2300 as every interesting area for a new turn up.

GBPUSD, 1h

GBP/USD 1-Hour Chart


German DAX

German DAX is still somehow under pressure following that strong decline to 11700 last week, while US markets are still near the highs. However, we see E-mini S&P500 in a fifth wave so if upside will be limited, then DAX can extend it's weakness; ideally into wave five of A. That said, one leg down is still missing to call a top in place near 12030. A push up from here and above 11923 would suggests that new highs are coming.

German DAX, 1h

DAX 1-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment