Elliott Wave Intraday Analysis: German DAX, S&P500 and the


USDJPY fell sharply during Asian trading hours as Nikkei 225 turned down from 19720 to 19450, but E-mini S&P500 made just a small pullback to 2260 while DAX is also having a corrective look from the latest high. So, we still see the market in risk-on mode, so on FX we may see turn up on USD and fall of JPY and other currencies.

German DAX, 1H

S&P500, 1H

If DAX and S&P500 are going to see higher prices then support on USDJPY may not be far away, but we still may see a dip to 115.00 to complete a five-wave structure in wave C) before wave 4 correction of a higher degree can be finished.


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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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