German DAX DAX hit the lower trend line of a wedge pattern where wave 5-circled can be looking for a bottom. Notice that wave 5 represents a final leg within wave C of wave IV). So if we are correct, then we know that downside is limited, so ideally price will continue up from 8600-8800 area. But as always we need to be careful with bullish calls until we see a five wave rise from the low. Only an impulsive turn and a break above 9610 will confirm a bullish scenario. German DAX, 4H AUDUSD AUDUSD has turned nicely at the start of February from 0.7240 where the pair topped out after seven legs of recovery from January lows. Recovery was overlapping and slow so we labeled it as a corrective move, probably it was wave C within a big triangle so new three wave decline can now be in the cards. If we are correct, then traders should be aware of a decline even back to 0.6800-0.6900 area while highs from last week at 0.7240 are not breached. AUDUSD, 4H 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! View All Post By Gregor Horvat AUD/USD Daily OutlooksDaily Look share Read Next USD/JPY downside towards 111.50; Gold and EUR/GBP positive bias Tip TV 7 years German DAX DAX hit the lower trend line of a wedge pattern where wave 5-circled can be looking for a bottom. Notice that wave 5 represents a final leg within wave C of wave IV). So if we are correct, then we know that downside is limited, so ideally price will continue up from 8600-8800 area. But as always we need to be careful with bullish calls until we see a five wave rise from the low. Only an impulsive turn and a break above 9610 will confirm a bullish scenario. German DAX, 4H AUDUSD AUDUSD has turned nicely at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
