German DAX and EURUSD Trading In Temporary Pullbacks; More Upside In View
|Good morning traders!
We again see US stocks market turning up, followed by higher shares in Asian session as well, which means that something similar can be seen for European markets. In fact, I see a nice bullish intraday pattern on DAX, which accomplished wave A with a five wave rise, so current sideways price move is likely then wave B flat correction which may find a base around 12960 area, at an open gap. That's very significant since gaps will tend to react as a reversal after they are filled. That said, be aware of a higher prices into wave C, towards 13150 while market is above 12846 intraday invalidation level.
German DAX, 15Min
If DAX will turn up from 12960 open gap, then EURUSD may stay trapped in a correction; ideally it will make a deeper a-b-c decline to around 1.1720/40 area where we would expect to see a bounce next week.
Everybody take care and have a Great weekend. Relax and achieve.
Cheers!
EURUSD, 1H
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
You trade different markets, want to learn and be on track with trend analysis? Find out what we have to offer, and Test Our Services For 14 Days For Only 1€.www.ew-forecast.comEW-Forecast.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.