Intraday Elliott Wave Analysis For AUDUSD And German DAX

By: Gregor Horvat | Tue, Jan 7, 2014
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From a technical perspective I expect weaker AUD against the buck, but price is still above that 0.8882 key level that needs to be broken for a bearish case. I would love to see push down to 161.8% Fibonacci extension target to make sure that pair is forming an impulsive fall. In such case we would confirm bearish view and look for possible shorts in rest of the week.

AUDUSD 1h elliott wave analysis

AUD/USD 1-Hour Chart

If you are intraday trader on German Dax then current price action may be very interesting for you as we see price correcting up with (A)-(B)-(C) formation that represents just a temporary recovery within larger incomplete downtrend. Keep an e ye on that 9500 and 9540 figures from where sell-off may occur.

Dax30( Mar 2014) 1h elliott wave analysis

DAX 1-Hour Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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