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Markets did not move much in the last few trading days, despite better than expected NFP figures on Friday. We however seen some push higher on stocks but nothing significant so far. On Dax we see a five wave fall from 11894, so the bounce from 11534 can be start of a three wave correction that in ideal circumstances will take us to 11800 area where bears may show up later this week.

German Dax, 1H

On FX board, USD remains under pressure for now, but we are waiting on that strong push higher on DX, above the upper trendline resistance that could finally put the dollar back in a strong position against other major currencies.

USD Index, 1H