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Elliott Wave Analysis on NZDUSD and German DAX

NZDUSD

NZDUSD hit 0.6440; near 261.8% from where the price turned up in the last 12 hours. We know that after wave 3) market will make a three wave reversal within wave 4), currently underway up to around 0.6590 from where a downtrend may resume next week.

NZDUSD, 4H

nzdusd 4

German DAX

German DAX extended its gains with an acceleration price action following the FOMC meeting. The index is at new highs for the month, which was expected since the start of this week, when the market found a bottom near 10480. Currently, the price is in wave 5 which may have an extended wave structure, so a bullish run can continue up to 11250 Fibonacci targets, while the price trades above 11000 level.

German DAX, 30 min

dax 30

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!