Elliott Wave Analysis on German DAX and GOLD

German DAX

On Dax we are looking down, currently into a fifth wave that is a final leg of a bearish impulse from 10521 high, so actually the bearish move can be coming to an end, but there is still room for another 200 or 300 point drop before bottom is reached; ideally at 9500-9600 zone.

German DAX, 1H

GOLD

It’s very interesting to see metals higher while the dollar is also up, but we think it has more to do with weakness on the stock market. Well, we see a room for even lower prices on E-mini S&P and DAX, so gold can stay up in such case.

On precious metal we see the price in the third wave up, likely an impulse that is headed to 1290 in the short-term, and then even 1300 if 1263 will stay in place.

GOLD, 1H

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!

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