Stocks moved slightly lower in the last few sessions dragging USDJPY with it, but on both markets we see the move as a temporary pullback within an ongoing uptrend. On German DAX we expect a minimum three wave rise away from 10628, but for now that’s not the case yet, as we see a price action in wave B) down, so traders must be aware of a wave C) rally to around 11000 or even 11100 area before the corrective recovery could be finished. So for the short-term view, traders must be aware of higher prices.
German DAX, 1H
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