DAX Reaching For New Lows ?


German DAX filled the gap recently around 9780 as expected. Well, notice that last week DAX always changed direction after the gap was filled, so if this pattern will repeat once again, then DAX can make another leg down to around 9400 area. Ideally bounce will occur from there later this week.

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German DAX, 1H

dax 1

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.