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Global stock markets are trading in green today following some upward movement yesterday on European and then also on US markets. At the same time JPY lost some value but it may find support once again for the next few sessions if stocks will be limited on the upside, but maybe not for long. Notice that on DAX, we are looking at a five wave rise from the low, labeled as leading diagonal. It can be wave (A) so more upside should follow in days ahead then, but only after wave (B) retraces back to around 9900-10000 area.

German DAX, 1H

DAX 1 (2)

If stocks will turn down for a minor correction, then the same thing can happen with AUDJPY where we are tracking wave 4, but sub-wave (b) is yet to come which may reach 81.00 area before we go up to 84.50.


AUDJPY 4 (3)