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European Stock Market Daily Report: DAX Performance Index DAX 40 Chart and Forecasts. FTSE 100 Index, Forex EURUSD GBPUSD DXY Dollar Index Elliott Wave Technical Analysis
European markets wrap: US Dollar heading higher in a corrective rally, which in turn will lower levels for GBP, EUR, DAX and FTSE
Market Indices Overview: Looking for a top as the USD is set to rally higher as a Wave 2 corrective counter trend.
Euro Indices Elliott Wave count: Wave v) of 5 of (1)
Elliott Wave Trading Strategy: Short term tops approaching for FX and Indices.

Video Chapters
00:00 DAX 40 (GDAXI) 
04:25 UKX / FTSE 100 / 
07:51 Forex GBPUSD / EURUSD / DXY 

Analyst Peter Mathers TradingLounge™ 

 

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    • The start of China's annual National People's Congress saw a muted response, with the Hang Seng index falling over 2% after Beijing set a modest 5% growth target for 2024 without any major fiscal stimulus measures. However, mainland Chinese shares rose amid suspected state-backed buying of exchange-traded funds tracking the CSI 300 index. Global markets are bracing for an eventful week with Fed Chair Jerome Powell's testimony, the US jobs report, the ECB's policy decision, and the UK budget. Investors are continue to search for cues on the Fed's future rate hike path, with the Atlanta Fed president suggesting no pressure to ease policy amid sticky inflation risks.   
    • Gold Elliott Wave Analysis - is it heading toward 2200? Function - Counter-trend Mode - Corrective Structure - Zigzag Position - Wave 5 of (5) Direction - Upwards for Wave 5 of (5) Gold has exhibited a bullish trend in the current week, surpassing the crucial level of 2100 and inching closer to achieving a new all-time high. By examining the daily chart, we can discern the formation of a promising bullish pattern. The fourth wave denoted as wave (4) in red, concluded at 1616 in October 2022. Subsequently, a bullish diagonal pattern has been unfolding as part of the fifth wave, known as wave (5), which belongs to a higher degree wave 5 in blue. The recent rapid surge in price can be attributed to wave 4 of (5) finding support at the significant level of 2000. As a result, wave 5 of (5) is currently progressing rapidly, and it is highly anticipated to follow a three-wave structure towards the next noteworthy level at 2200, easily surpassing the 2100 threshold. Transitioning to the H4 time frame, our analysis predicts a three-wave subdivision, identified as blue wave a-b-c, for wave 5. Considering the impulsive nature of the upward movement from $1984, we believe that it will ultimately complete the first wave, namely blue wave a. At present, blue wave a is in the process of concluding its third sub-wave, (iii) of a. Subsequently, sub-wave (iv) may retest the key level of 2100 before sub-wave (v) ultimately concludes blue wave a. In summary, based on our analysis, the recommended strategy for traders is to consider buying the dip in Gold at this time. Traders have the option to either trade the conclusion of wave (iv) for (v) of blue wave a on the lower time frame or await the completion of blue wave b at significantly lower prices. Following this, blue wave c of 5 would be expected to propel Gold towards the 2200 mark. This analysis presents potential opportunities for traders to explore strategic entry points and benefit from the bullish momentum of Gold. Technical Analyst : Sanmi Adeagbo          
    • AAPL Elliott Wave Analysis Trading Lounge Daily Chart, 5 March 24 Apple Inc., (AAPL) Daily Chart AAPL Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective   STRUCTURE: Flat POSITION: Minute {c} of wave 2.   DIRECTION: Completion of wave {c} of 2.   DETAILS: Today we are looking at two different count on the daily and 4H chart. On the daily I am exploring the possibility of a wave {c} in the making, headed towards the lower end of MG2 at 165$, to then start finding support.     AAPL Elliott Wave Analysis Trading Lounge 4Hr Chart, 5 March 24 Apple Inc., (AAPL) 4Hr Chart AAPL Elliott Wave Technical Analysis FUNCTION: Counter Trend   MODE: Corrective STRUCTURE: Flat   POSITION: Wave {c} of 2.   DIRECTION: Acceleration higher into wave (iii) of {c}. DETAILS: Here we have a top in wave 1 where we previously had a wave {b} top. Looking for similar downside targets towards 165$. Welcome to our AAPL Elliott Wave Analysis Trading Lounge, your hub for comprehensive insights into Apple Inc. (AAPL) using Elliott Wave Technical Analysis. Let's delve into the market dynamics as of the Daily Chart on 5th March 2024.     * AAPL Elliott Wave Technical Analysis – Daily Chart* Our analysis reveals a counter trend function with a corrective mode, characterized by a flat structure. Positioned in Minute {c} of wave 2, we anticipate the completion of wave {c} of 2. Today, we're exploring two different counts on both the daily and 4Hr charts. *AAPL Elliott Wave Technical Analysis – 4Hr Chart* Here, we maintain a counter trend function with a corrective mode, identified by a flat structure. Positioned in Wave {c} of 2, we anticipate acceleration higher into wave (iii) of {c}. This analysis follows a previous top in wave 1, where we observed a wave {b} top. We anticipate similar downside targets toward $165.  
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