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The continuation of the trend is likelyDear Friends, I hope this message finds you well and that you're having a great start to the week. I wish you success in your business endeavors. As someone interested in the Elliott Wave principle, I find it a valuable tool for analyzing the market. I have developed my approach by combining this principle with my personal experience and by considering various scenarios that are likely to occur in the market. I am sharing my analysis with you, but please note that I am not providing any buy or sell signals. I aim to share my unbiased analysis with you so that you can use it as a guide to make informed decisions. The first analysis is Litecoin In the attachment, you will find my previous analysis of the same market, so you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand (although having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily). I have been studying the Elliott Wave principle for almost three years now. With time, my understanding of this knowledge and experience has increased. What I have achieved so far is a legacy of a genius named Ralph Nelson Elliott, and I am truly satisfied with my progress. May his soul rest in peace and his memory be cherished. Thank you for your support so far. I am grateful and will always remember your kindness. Please feel free to share your thoughts and feedback with me. I hope my analysis will be useful to you in your business journey, and I wish you all the best. Sincerely,
FX:GER30Long
by mehdi47abbasi79
Weekly Technical Analysis 05/02/2024Start your week by identifying the key price levels and trends. The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex. *KEY Trend direction is set by the slope of the VWAP. Trend phase is determined by the current price relative to the VWAP (20) level and Elliot waves. Support & Resistance are set by the StdDev #2 Lower and Upper respectively. Momentum is determined by the RSI level (70 as overbought and under 30 as oversold). --------------------------------------------------------------------------- Analysis Germany 40 is currently in the impulsive phase of a bullish trend, with the price above its 20-period VWAP of 16,754. The index finds support at 16,417 and faces resistance near 17,091. The RSI stands at 57, indicating a positive momentum but not yet overbought. UK 100 is navigating from bearish to bullish conditions after a big impulsive move higher, with its price positioned well above the down-sloping 20-period VWAP of 7,560.4. The index's support level is at 7,411.3, with resistance at 7,709.5. The RSI is at 54, suggesting a moderate bullish momentum. Wall Street is in the impulsive phase of a bullish trend, highlighted by its price well above the 20-period VWAP of 37,921. The support for this index is at 37,064, with resistance at 38,778. The RSI is at 66, pointing towards strong bullish momentum without reaching overbought territory. Brent Crude is in the impulsive phase of a bearish trend, with its price below the 20-period VWAP of 79.48. The support level is at 75.33, with resistance near its current price at 83.64. The RSI is at 41, indicating bearish momentum with potential for further downside. Gold is also in the corrective phase of a neutral trend, with its price slightly below the 20-period VWAP of 2,032. The support level is at 2,007, with resistance at 2,056. The RSI at 45 indicates a neutral to bearish momentum, suggesting the market is assessing direction. EUR/USD is experiencing the impulsive phase in a bearish trend, with the price below the 20-period VWAP of 1.0862. The support is at 1.0764, with resistance at 1.09601. The RSI at 34 indicates a strong bearish bias, suggesting potential for further declines. GBP/USD is breaking lower from a neutral trend in a new impulsive move, with the price below the 20-period VWAP of 1.2691. Support is found at 1.2612, with resistance at 1.2769. The RSI at 38 suggests a bearish outlook, with room for downward movement. USD/JPY is in the impulsive phase of a bullish trend, with its price above the 20-period VWAP of 147.45. The support level is at 145.64, with resistance at 149.27. The RSI is at 63, indicating strong bullish momentum and potential for continued upward trend.
SPREADEX:GDAXI
by Spreadex
DAX wakes up and starts the week with a joltThe DAX index wakes up to extremely negative German export data , while the German trade balance for December benefits from Christmas orders. Crucial data is expected this morning: the January PMI in Germany (slight decline expected) and in the Eurozone (expected to remain unchanged). In addition, UK and US PMI could impact the day. From a technical point of view, the index has formed a bullish shift in the 1-4 hour range since January 17 , anticipating a rebound towards the mid-zone in the direction of 17.022. However, a bearish impact could trigger a bearish breakout looking for 16,345. The key area for the index this month is 17,034 points, having already experienced three previous bounces and becoming the area to beat during this month to see a clear continuation in the channel. If so, it could already head towards 17335, or break once, and again the bullish milestones obtained so far in a strong correction towards 15935. This week is not expected to be as relevant, and the market is relatively bullish on the index, which has been at its highs since its Christmas rally. On Friday, a cross of averages occurred, marking the positive signal of the 34-day averages crossing over the 84-day averages, indicating optimism, although the crossing with the 233-day average is not expected yet, so a continuation is foreseeable. The RSI divergence indicator suggests a move towards overbought, indicating a possible continuation. The opening of the US market will be crucial, as the fluctuation of the dollar can significantly affect the index. Ion Jauregui - AT Analyst The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
GLong
by ActivTrades
DAX Near Term Support AreaShort Term Elliott Wave view in DAX suggests the rally from 10.23.2023 low is unfolding as a 5 waves impulse. Up from 10.23.2023 low, wave 1 ended at 17003.28. Wave 2 pullback subdivided into a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 16448.71 and wave ((x)) rally ended at 16839.49. Wave ((y)) lower subdivided into a zigzag like the 30 minutes chart below shows. Down from wave ((x)), wave (a) ended at 16542.99 and wave (b) ended at 16752.24. Wave (c) lower ended at 16348.28 which completed wave ((y)) of 2 in higher degree. Index has resumed higher in wave 3. Up from wave 2, wave (i) ended at 16705.49 and wave (ii) ended at 16607.72. Wave (iii) higher ended at 16967.72 and pullback in wave (iv) ended at 16860.05. Wave (v) higher ended at 16999.58 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) is in progress as a double three Elliott Wave structure. Down from wave ((i)), wave (w) ended at 16825.43 and wave (x) ended at 16915.92. Expect wave (y) to extend lower to reach 16644.48 – 16747.95 area to complete wave (y) of ((ii)). Near term, as far as pivot at 16348.28 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.
XETR:DAX
by Elliottwave-Forecast
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