Elliott Wave Analysis German DAX and AUDUSD February 18


German DAX

We have been looking for lows on DAX for some time. The current price action from the lows has 5 waves up thus we expect to see an ABC pullback soon. There is a gap on this impulse structure so we expect this gap to be filled during this pullback. Levels to expect as support is around 9.000.

German DAX, 30 Min

dax 30


On the intraday chart of AUDUSD, we are tracking a complex correction pattern in red wave B) that could be near completion, as wave Y of the second zig-zag is in late stages. That said blue wave c-circled of wave Y can be an ending diagonal, that can push prices lower in the sessions ahead.

audusd 1

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About Author

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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