Elliott Wave Analysis On AUDNZD And German DAX

Gregor Horvat

We think that sooner or later AUDNZD will move back to the highs as recent decline has unfolded in three waves which looks like a corrective move; maybe already completed. Break above 1.1000 will be an important evidence for a completed wave c-circled. In that case we will look up to around 1.1200.

AUDNZD 4 Hour Chart

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German DAX is turning south after recent sharp move down through the support line of an upward channel connected since start of October. This breakout indicates a completed five wave move, which means that new corrective set-back is underway. We will be looking for an (A)-(B)-(C) drop to 10480 where bears can slow down later this month.

German DAX, 4 Hour Chart

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Source: www.ew-forecast.com

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