Elliott Wave Analysis For EURJPY And German DAX
We think that a three wave move from Mar lows on EURJPY chart seems to be completed, as price made a recent reversal from the highs where wave C-circled is labeled, towards 126 area, possibly suggesting bearish view in play. That said blue wave 1 seems to be unfolding, now already midway through it’s completion.
EURJPY, 4H
German DAX
DAX has firstly turned down last week after touching 10000 psychological level where we see end of a five wave recovery; ideally of a wave one. As such, we should be aware of a contra-trend reaction with an A)-B)-C) formation as a flat that may look for a support near 9100-9300 area. That would be the perfect region for a continuation up into a big third leg.
German DAX, 4H
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