Elliott Wave Intraday Analysis On EURUSD And German DAX
USD index broke above 2015 highs which caused new strong legs against the EUR, JPY, AUD and gold as well.
Move down on EURUSD from the last 24 hours is sharp with a lot of bearish momentum so we will look for even more weakness after any pullback. On the 15min chart we are tracking an idea of a fourth wave correction that can stop near 1.0620/30 area for a new leg down to 1.0550 mark.
EURUSD, 15 Min
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In fact, EURUSD may decline even more once DAX resumes the uptrend, which is still consolidating and it may bottom at the 10500-10550 area.
German DAX, 1h
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