Elliott Wave Analysis: DAX Can Find Support And A Bullish Turn Around 11800-11950

Technical analysis of Forex market

Yen opened stronger and dollar rallied as stocks turned down following new Trump tweets about US-China trade deal.

We see SP500 futures gaping down, same as DAX which is headed back to the lows it seems after only three waves up to 12200 area. There are new supports that we have to keep an eye on DAX; first one is at 11930 followed by second one at 11800.

German DAX, 30Min

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Stocks are in bearish mode, but not necessarily in a higher degree downtrend; it can be just another pullback. Notice that DAX loves 500-650 points of pullback. If this will repeat then support is at 11800-11950.

German DAX, Daily

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