Elliott Wave Analysis: German DAX and AUDUSD
|Good day traders. Here are qucik peeks on DAX and AUDUSD.
German DAX turned nicely up, as we expected and moved sharply back above 13k figure. We see an impulsive reaction from recent swing low so we think it's wave C which can run up into 13100-13150 area where upside can be limited this week since we think that recovery from 12846 is a correction. A reversal may be seen.
German DAX, 15Min
Recent minor rally on AUDUSD to 0.7574 is looking like a small correction, probably wave four within ongoing five waves of decline from 0.7618 that can extend down to 0.7500. We however think that sooner or later a higher degree correction will occur, but only if we see a break above 0.7600.
AUDUSD, 1H
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