USDCAD bounced recently as Crude oil turned down from above 38.00. On the loonie we see a new recovery underway, but we think it will be just a temporary corrective move. We are looking at red wave 4) that should be made by minimum three waves, so new weakness may resume from previous swing highs and fourth wave, visible at 1.3468 and 1.3500. This one can be very interesting for shorts if we will get nice three waves up, as a zigzag.
DAX moved lower recently to around 9610 but with a slow and overlapping price action that we see as a corrective wave. It can be wave 4) that will send price to a new high, but maybe we will have to wait till tomorrows ECB press conference. From a technical perspective we see room for 10000.
German DAX, 1H