Home Elliott Wave Analysis German DAX and NZDUSD May 18 2016
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Elliott Wave Analysis German DAX and NZDUSD May 18 2016

German Dax

German DAX remains trapped in the 400 point range seen as a triangle in wave 4 which is now in late stages with the current subwave e that may look for resistance near the 9950-10000 area today.

German DAX, 1H

dax 1 (1)

NZDUSD

NZDUSD is slightly lower, but we will not give up with our short-term bullish view for wave C) of 2 if we consider that wave A) high has not been taken out yet. As such, the current leg down can represent red subwave B) as part of a corrective recovery that will ideally stop at 0.6760-0.6900 area.

NZDUSD, 4h

nzdusd 4 (1)

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!