Elliott Wave Analysis: German DAX and GBPJPY 

intraday gbpjpy analysis

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Elliott Wave Analysis: German DAX and GBPJPY

Stocks remains in bullish mode which keeps Japanese in a bearish trend, while USD is showing a mixed picture. Pound is still very strong. On DAX we see slow price move above 12470; it’s probably a corrective move in fourth wave; ideally a triangle that can lift price back to the highs soon.

DAX, 1H

intraday dax analysis

While Stocks are up we expect XXX/JPY pairs to move even higher. AS such, we are tracking GBPJPY which is in strong uptrend this week, currently seen in wave five of 3 that can be looking for a top in the very near future; ideally next week around 149-150 zone.

GBPJPY, 1H

intraday gbpjpy analysis

 

Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.

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By Gregor Horvat

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