Looking at the whole FX market, when we see such a nice recovery on XXX/JPY crosses and bullish commodity currencies, seems like risk-on mode may continue, so DAX and other stocks may remain within uptrend. USD remains bearish, we may just see a small corrective recovery today on Monday and we know that Mondays are usually fake flows, so it would be perfect for a pullback. That being said, USD Index may see a three-wave recovery here in the 96 area, at the same time EURUSD and GBPUSD could face a three-wave a)-b)-c) corrective decline into wave »b«/«ii«.

German DAX, 1h

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USD Index, 1h

EURUSD, 1h

GBPUSD, 1h

 

 

 

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