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Elliott Wave S&P500 German DAX August 10 2016

S&P500

FX market remains trapped in a sideways price move, so we are still not fully convinced about the direction of the USD in the short-term. But there are markets that have more clear patterns. On stocks we see nice bullish impulses that can take the price even higher in the very short-term. On E-mini S&P500 we are looking at wave four that is expected to cause a new strong push up soon. We expect a fifth wave rally up to around 2190 region.

S&P500, 30Min

snp 30 (1)

German DAX

German Dax is also in a nice uptrend but with a much sharper price move compared to S&P. On the index we see an extended blue wave three that can be finished around 10700, so be aware of a slightly lower pullback with wave four back to around 10600, before we may get a new leg up; wave five of five.

German DAX, 1H

DAX 1 (2)

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!