Published On: Thu, Nov 30th, 2017

Elliott Wave Updates: DAX And EURUSD

Good day traders!

made five-waves down from 13537 level, which is a sign of a chnge in trend, in this case from bullish to bearish. This completed five-wave drop also suggests, that a three-wave pullback may come in play. Well, we can see that a three-wave correction is already underway, with waves A and B completed and current overlapping price movement being wave C. Wave C can ideally unfold as a wave ending diagonal; a powerfull reversal pattern, that may take price sharply lower in days to follow.

German , 1h

DAX, 1H

If DAX would drop I would look for a new turn up on , which for now does not have any clear wave structure, but if price holds 1.08 anything is possible.

EUR/USD, 1h

EUR/USD Hourly Chart

EUR/USD Hourly Chart

Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.

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