• 3 days Big Business’ New COVID Initiative: No Jab, No Job
  • 5 days The Most Interesting Stocks Of Earnings Season, For Better or Worse
  • 7 days Chinese Stocks Rebound After Regulatory Scare
  • 9 days Apple Stocks Falls After Blowout Earnings Report
  • 9 days The 5 Biggest IPO Disasters Of 2021
  • 10 days Crypto-Based ‘Shadow Financial Market’ Spooks Regulators
  • 13 days Ireland Balks At Biden’s Global Tax Plan
  • 16 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 19 days Facial Recognition Is Watching You
  • 21 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 21 days The Fed’s $3 Trillion Headache
  • 24 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 24 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 25 days Delta Variant Real Threat To Economic Recovery
  • 28 days JEDI Drama Continues With Microsoft Contract Cut
  • 30 days DiDi Shares Take a Beating From Chinese Regulators
  • 31 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 31 days Jobs Report Has Big Numbers, But Still Big Problems
  • 32 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 35 days Didi Just Went Public, And Uber Is Loving It
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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…

Contact Author

  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