Elliott Wave analysis on DAX: Intraday drop is impulsive

Gregor Horvat Wavetraders

German DAX is making a nice turn-up after the completion of a five-wave drop from 14674 high, so I think more weakness will be seen after current rally in (B) which is now at first 14k resistance, but there is also a second, possibly even more important one at 14192. If DAX drops further, then EURUSD will have hard times breaking above 1.0730/40.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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