Home Elliott Wave Analysis: DAX, EURUSD November 13 2015
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Elliott Wave Analysis: DAX, EURUSD November 13 2015

The stocks fell sharply yesterday, so we have seen a new leg down on DAX as well, which is now trading around 10710. But we see the prices in wave C expected to hit 10682, where the index can be looking for some support. From a technical perspective, a move from the top could still be corrective because of a three wave decline, so ideally, that’s wave 4) now searching for a support.

German DAX, 1H

DAX 1 (2)

If DAX will turn up, then EURUSD will fall further. On the chart below the price made a three wave bounce up to the 1.0825 level, which looks like a fourth wave; probably completed because of a three- wave rise, followed by a current intraday turn down to 1.0760. We still see EURUSD in bearish mode, which may extend its decline to 1.0600 area.


EURUSD 1 (3)


Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!