Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Chris Svorcik
DAX 30

Dear traders,

Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

the German DAX 30 index made a double top pattern and is extending a bearish retracement within potential wave 4 (green).

Daily chart

The DAX 30 is expected to make a pullback towards the Fibonacci retracement levels of wave 4 vs 3. A bullish bounce at the support Fibs could confirm (green check) the uptrend continuation (green arrows) towards the Fibonacci targets. A bearish break below the 50% Fib makes the wave 4 (blue) pattern less likely.


4 hour chart

The DAX 30 seems to be building a bearish ABC (green) within wave 4 (blue). A break below the 23.6% Fibonacci level could indicate a move towards the 38.2% Fib whereas a bullish bounce could mean the end of the wave 5 (orange) of wave C (green) and the start of a new bullish swing (green arrows). For the moment, a bearish continuation of the pullback towards the 38.2% Fib seems most likely.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Good trading,
Chris Svorcik
Elite CurrenSea

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.