Elliott Wave Analysis: German DAX and EURUSD
Finally, it happened, stocks are breaking out which has started yesterday during the US session so we expected the same to follow through in Asian and European session. We can see DAX moving sharply higher, clearly that’s a wave three of three now which can send price even up to 11800 and then 11900 projected levels. In the mean-time any pullbacks lower will be treated as small corrections within uptrend.
German DAX, 30Min
The only thing that we are still waiting on is the response on FX markets. USD is still lagging a lot, but pattern on EURUSD suggest that strong move lower may not be far away if we consider that pair is showing some very early signs of a top at 1.0774.
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