Comment: Projecting the following move a forex pair will go is the heart and soul of trading forex currency market. If however it was simple everybody would be making money and because the number of successful traders is just about merely five percent clearly just about all traders should review the method by which they make their trading decisions.Whilst many traders spend hours over forex charts in some cases for hours at a stretch it actually is generally constraining because it limits both fundamental and general opinion judgment from your forex trading formula. Knowing what effective investors think and German DAX Trading In Final Stages Of A Correction; Probable Reversal Higher May Follow article below provides for a experienced opinion of market trends.
German DAX Trading In Final Stages Of A Correction; Probable Reversal Higher May Follow
Good morning traders.
US stocks found some support yesterday so we are not surprised to see higher Dax early this morning, where price may already be at the start of a new bullish leg that will take us above 10800 since index found support at 10500-10550 area. In the meantime we expect to see lower EUR, which is not the case yet, but we think that negative correlation will come back in play once DAX starts accelerating higher.
German DAX, 1H
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Chief Technical Strategist
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About the author
Gregor Horvat is based in Slovenia (Central Europe) and has been in Forex market since 2003. He is technical analyst and individual trader who also provide a lot of articles and trade plans based on the Fibonacci and Elliot Wave principle. He was working for Capital Forex Group and TheLFB.com. His feature articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, oil, gold, and the U.S. stock market.
Gregor Horvat is also founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). EWP provides a method for identifying price points at which a market is most likely to turn. Knowing the probable swing and reversal points provides confirmation of where investors could enter and exit positions for the highest probability of success.
Chief Technical Strategist