Tag Archives: Gregor Horvat

German DAX Could Be In A Reversal Into Higher Levels

Gregor Horvat

German DAX has been trading south for the last few weeks but it can be only a temporary weakness if we consider that big trend is up after a three wave drop from April high to September low at 9300. We labeled this as big zigzag that represents A of a complex correction, while bounce to 11418 was wave B. As such, move down from 11411 was wave C as part of a flat correction that can be finished with recent leg up to 9600. That said, be aware of more gains ahead. more…

German DAX : Bullish Reversal May Be In Play

Gregor Horvat

German DAX has been trading south for the last few weeks but it can be only a temporary weakness if we consider that big trend is up after a three wave drop from April high to September low at 9300. We labeled this as big zigzag that represents A of a complex correction, while bounce to 11418 was wave B. As such, move down from 11411 was wave C as part of a flat correction that can be finished with recent leg up to 9600. That said, be aware of more gains ahead. more…

EURUSD : Big Triangle In Progress

Gregor Horvat

EURUSD moved to the upside in the last few weeks, after it finally broke out of a wave B) triangle pattern that we have been tracking it for almost two months. Leg up was very sharp so it was probably an impulsive wave C of wave C-circled that belongs to a big triangle formation. Recent sharp move to the downside from 1.137 is ideally wave A), the first leg of a three wave move of blue wave D-circled, that can find bottom at previous swing lows around 1.07107 and turn higher into wave E-circled. more…

USDCHF Making A Reversal

Gregor Horvat

USDCHF has traced 5 waves up, which we see as the start of a new upside trend from latest lows. This pair touched psychological level 1.000 and found resistance there. Current development we see as a corrective three wave pullback with support around 0.9840 levels, from where we expect to see further continuation to higher levels. more…

Elliott Wave Analysis On EURUSD And EURJPY

Gregor Horvat

EURUSD: Traders, we have some first signs of a continuation higher on EURUSD after price made an overlap with 1.0882 which invalidates any bearish impulse down from 1.0970 high. As such, we are even more confident that decline is corrective and ideally it was wave E, final leg within a big triangle that can send prices higher this week. Today at 16.00GMT ECB President Draghi will have speech, so if price will stay in bullish mode after that, then we may consider entries on a pullback. We will track it very closely! Any break beneath 1.0770 will invalidate our bullish bias. more…

USDCAD : Correction Within Bullish Impulse

Gregor Horvat

USDCAD turned sharply lower last week and closed at the low on Friday, which suggests that pair is already turning down into a new corrective set-back. We are tracking wave 4-circled that can retrace even back to 1.3800-1.4000 area before uptrend may resume for a final leg within a bullish cycle. For now, invalidation level remains at 1.3456; so as long it will hold trend is actually up, but we would have no problem turning immediately bearish if overlap occurs. more…

USDJPY : Correction Within Uptrend

Gregor Horvat

USDJPY has turned sharply lower in the last few weeks which now looks like a new leg within ongoing complex correction. We are tracking red wave 4) which can be a triangle or even a flat, but for now we will focus on a triangle which means that current leg down can be limited around 118.00 area. We would not be surprised by a bullish turn up into wave D later this month. more…

GBPUSD : Downtrend Continuation

Gregor Horvat

GBPUSD has turned bearish in the last two weeks after only three wave bounce from 1.4893 to 1.5240 which was a corrective move; a zigzag. As such, we are bearish on GBPUSD and will expect more weakness after any pullback. At the moment trend is still down but wave 1 appears complete so be aware of a corrective bounce up into wave 2 that can be looking for a resistance near 1.5000 next week. more…