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.
EURUSD, 1H
