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Germanindex

DE30/EUR 1D Chart: Rebound from 55-day SMADE30/EUR 1D Chart: Rebound from 55-day SMA The index that compiles 30 largest German companies is advancing against the Euro in the long-term rising wedge formation. This pattern started to form two years ago and today consists of two reaction highs and three reaction lows. Consequently, the breakout of the pattern is expected to happen in the Q2 2018. In the meantime, in the middle of this year the exchange rate started to form new junior ascending channel but due to support provided by the 55-day SMA it began to transform into another rising wedge. As the northern side contains no notable obstacles, the pair is expected to continue climbing to the top, thus ending the year near the 13,600 level. In case of sudden reversal, the above moving average should prevent the pair from making a premature breakout.
OANDA:DE30EUR
by UnknownUnicorn890690
German Markets DAX 30 to head higher (Elliott Wave Analysis)It looks like DAX 30 (German Index) has just completed an A-B-C corrective Wave 4 (The circled Blue Wave iv) and hence we can expect good upside in the coming sessions. From an alternate perspective it is also possible that the Wave iv of Wave (c) is still continuing as a Triangle or some other corrective structure, hence it would be best to look for longs only after the break of the Green Trigger line 12308 level to the upside. The exact confirmation of the new leg up will only come after the break of the Blue upper channel line. Even if the Wave iv (Blue circled) is continuing as a Flat, we still have a good trade setup here to look for longs untill atleast the all time highs of 12960. I will update further as this market continues.
FX:GER30Long
by NeeravYadav
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