Elliott Wave Analysis: AUD/USD, German DAX
Gregor Horvat | Nov 14, 2017 10:04AM ET
Good day traders! Hope everybody is doing great.
Todays focus is on AUD/USD and German DAX.
AUD/USD looks to be trading within blue wave five, final wave as part of a bigger impulse. We expect to see a five-wave drop develop within the mentioned wave, towards the Fibonacci ratio of 138.2 and 161.8.
German DAX can be trading in the middle of a three-wave recovery. We see black wave B in progress that can find support near current levels, from where a new rally into wave C can follow. Wave C can later search for resistance near the Fibonacci ratio of 50.0 or 61.8.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
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