Sun, Nov 24, 2024 @ 08:19 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisElliott Wave Analysis: DAX Can Find Support And A Bullish Turn Around...

Elliott Wave Analysis: DAX Can Find Support And A Bullish Turn Around 11800-11950

Elliott Wave Financial Service
By Elliott Wave Financial Service

Yen opened stronger and dollar rallied as stocks turned down following new Trump tweets about US-China trade deal.

We see SP500 futures gaping down, same as DAX which is headed back to the lows it seems after only three waves up to 12200 area. There are new supports that we have to keep an eye on DAX; first one is at 11930 followed by second one at 11800.

German DAX, 30Min

Stocks are in bearish mode, but not necessarily in a higher degree downtrend; it can be just another pullback. Notice that DAX loves 500-650 points of pullback. If this will repeat then support is at 11800-11950.

German DAX, Daily

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2024 All rights reserved.