Home Elliott Wave Analysis German DAX and NZDUSD August 11
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Elliott Wave Analysis German DAX and NZDUSD August 11

German DAX

We have seen a spike higher on DAX at the start of the futures market open, but the price came down very sharply back to the 10600/40 area where we think the market can be looking for a support once again. On the updated chart we are still looking at wave four, which can be a flat so we stay bullish here for wave five rally up to around 10800 region or maybe even higher.

German DAX, 1H

DAX 1 (3)

NZDUSD

The market saw a cut of 25bp yesterday for New Zealand dollar, but the pair moved higher anyhow as a cut was expected so the reaction was clearly technical. So far, we have seen a nice move down from 0.7342 area, but it’s a little bit early to confirm a top in place. However, if the market will experience more weakness in the sessions ahead, then I would be interested in short ideas on a pullback.

NZDUSD, 4H

NZDUSD 4

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!