DAX (Germany) Elliott Wave analysis - Day chart

Function: Bullish Trend.

Mode: Impulsive.

Structure: Orange Wave 3.

Position: Navy Blue Wave 5.

Next lower degree direction: Orange Wave 4.

The DAX Day Chart for Germany, based on Elliott Wave analysis, indicates a bullish trend. The market is currently in an impulsive mode, which suggests a strong upward movement. The chart structure is highlighting orange wave 3, part of a larger wave cycle.

The market is positioned in navy blue wave 5, representing an advanced phase of this bullish cycle. Orange wave 2 has completed its corrective phase, and orange wave 3 of 5 is currently in progress, further driving the market upwards.

The next anticipated movement in the cycle is orange wave 4, expected to introduce a temporary corrective phase following the completion of orange wave 3. For now, however, orange wave 3 continues its impulsive push, indicating further upward momentum.

The wave invalidation level for this structure is set at 17029.88. If the price drops below this threshold, the current wave count would be invalidated, necessitating a reassessment of the wave structure. As long as the price remains above 17029.88, the bullish trend and wave formation are expected to continue.

Summary

  • The DAX Day Chart shows a bullish trend in an impulsive mode.

  • Orange wave 2 has completed, and orange wave 3 of 5 is unfolding.

  • The market is positioned in navy blue wave 5.

  • The next lower degree wave is orange wave 4.

  • The invalidation level is 17029.88. As long as the price stays above this, the bullish momentum is expected to continue.

DAX

DAX (Germany) Elliott Wave analysis - Weekly chart

Function: Bullish Trend.

Mode: Impulsive.

Structure: Navy Blue Wave 5.

Position: Gray Wave 3.

Next lower degree direction: Gray Wave 4.

The DAX Weekly Chart for Germany, analyzed using the Elliott Wave method, shows a bullish trend. The market is currently in an impulsive mode, indicating strong upward price action. The key structure is navy blue wave 5, which signifies the final stage of this wave cycle.

At present, the market is positioned in gray wave 3, which is propelling the ongoing upward trend. The next expected movement is gray wave 4, likely to introduce a corrective phase once gray wave 3 completes. However, for the moment, the chart reflects the continuation of the impulsive rise in navy blue wave 5.

Navy blue wave 4 is considered complete, and the market has moved into navy blue wave 5, indicating further advancement in this wave structure and the maintenance of the bullish trend.

The wave invalidation level for this structure is set at 17029.88. If the price drops below this point, the current wave structure would be invalidated, requiring a reanalysis. However, as long as the price remains above 17029.88, the bullish outlook for the market stays intact.

Summary

  • The DAX Weekly Chart indicates a bullish trend in an impulsive mode.

  • Navy blue wave 4 has been completed, and navy blue wave 5 is now progressing.

  • The market is positioned in gray wave 3, with gray wave 4 expected next.

  • The wave invalidation level is set at 17029.88. As long as the price stays above this, the bullish trend is expected to continue.

DAX

DAX (Germany) Elliott Wave technical analysis [Video]

Share: Feed news

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended content


Recommended content

Editors’ Picks

EUR/USD challenges 1.0500 on Dollar's bounce

EUR/USD challenges 1.0500 on Dollar's bounce

The US Dollar now picks up further pace and weighs on the risk-associated assets, sending EUR/USD to the boundaries of the key 1.0500 region and at shouting distance from its 2024 lows.

EUR/USD News
GBP/USD remains weak and puts 1.2600 to the test

GBP/USD remains weak and puts 1.2600 to the test

GBP/USD remains on the back foot and now approaches the key support at 1.2600 the figure in response to the resurgence of the bid bias in the Greenback.

GBP/USD News
Gold faces extra upside near term

Gold faces extra upside near term

Gold extends its bullish momentum further above $2,660 on Thursday. XAU/USD rises for the fourth straight day, sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war. Markets await comments from Fed policymakers.

Gold News
BTC hits an all-time high above $97,850, inches away from the $100K mark

BTC hits an all-time high above $97,850, inches away from the $100K mark

Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.

Read more
A new horizon: The economic outlook in a new leadership and policy era

A new horizon: The economic outlook in a new leadership and policy era

The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures