German DAX and EURUSD Trading In Temporary Pullbacks; More Upside In View

Gregor Horvat Wavetraders

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.

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

Top Crypto Gainers: Aster, Decred, and Kaspa rise as selling pressure wanes

Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.