The markets gaped on Sunday, particularly the EUR after five ministers in Berlusconi’s party have resigned from the government coalition. Stocks futures are also lower, but based on the German Dax wave structure and USD Index price action USD remains in downtrend while stocks could form a bullish reversal. Last week we posted a 4h bullish count for the German DAX to our members and mentioned a possible retracement to open a gap zone. Well, the price is now lower and very close to that “reversal zone” so be aware of a move higher especially if we consider only a three wave pull-back from latest high which we think was a wave four. German Dax 4h The German Dax and EURUSD have a positive correlation as we can see on the chart below, so if European stocks will rally then EURUSD should find a bid based on latest data. Meanwhile of course USD is expected to fall further against other rivals as well, which is fine if we consider a bearish trend on the USD Index. EURUSD vs DAX USD Index Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next Canadian dollar set to rise (technical analysis) FX Tech Strategy 9 years The markets gaped on Sunday, particularly the EUR after five ministers in Berlusconi's party have resigned from the government coalition. Stocks futures are also lower, but based on the German Dax wave structure and USD Index price action USD remains in downtrend while stocks could form a bullish reversal. Last week we posted a 4h bullish count for the German DAX to our members and mentioned a possible retracement to open a gap zone. Well, the price is now lower and very close to that "reversal zone" so be aware of a move higher especially if we consider only a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
