USDJPY and German DAX Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Jul 16, 2015
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German DAX seems to be in fifth wave of recovery from 10637 low so seems like market could make some corrective set-back soon. But there is still room for 11900 before sellers may come in and send price down to the first gap near 11530.

DAX (Aug 2015) 1h Elliott Wave Analysis

DAX Futures(Aug 2015) 1-Hour Elliott Wave Analysis Chart

USDJPY is moving higher nicely for the last couple of days, but we see pair trading at some technical resistance here around 124.00-124.50. Notice that we can count five waves up from 120.43, while the RSI is showing a bearish divergence which suggests a bearish turn in sessions ahead, but only for a corrective set-back; big trend remains up!

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, 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 www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple 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.

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