Elliott Wave Analysis On German DAX And EURGBP
DAX keeps trading higher in a nice impulsive fashion, now already in wave 4), that could send prices even higher in wave 5). That said a pullback looks to be unfolding probably to around 9673-9710, where wave C would equal the distance traveled in wave A. We would not be surprised, if a reversal would happen in sessions ahead, towards 10015 area.
German DAX, 1H
EURGBP is trading quite nicely as well, making a nice recovery in wave B) after five waves were made in wave A). That said, broken upper channel line suggest that wave A) is completed, and a three wave pullback is in motion in wave B), ideally towards 0.78125 area, where previous wave 4 and even some fibo. ratios could serve as a reversal towards lower levels in wave C).
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