Elliott Wave Analysis on Dax and USDCHF

German DAX

DAX is turning up, with from the recent push above the trend line resistance of a wedge pattern suggesting more gains ahead as the rally from the low also has an impulsive personality. However, nothing moves in straight lines so we would not be surprised by a corrective retracement; ideally back into the area of 9000-9300 which can be the ideal zone for a bounce, from a technical as well as psychological point of view.

German DAX, 4H

USDCHF

USDCHF descended five waves down from 1.0255 so that the decline appears to be completed since we also see five sub-waves from 0.9972 in red wave 5). Well, notice that so far the pair already gained nearly 300 pips which looks promising for a more bullish price action ahead. Ideally we will see further upside this week but after wave 2)/B) pullback, which can be now already in progress.

USDCHF, 4H

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!

View all posts by Gregor Horvat