German DAX

German DAX is trading in an intraday bearish structure, now possibly in sub-wave 5, which is the final leg of an impulsive decline. We labeled it as wave C). We think that wave 5 will extend toward some Fibonacci projected ratios(161.8, 261.8) which can react as a resistance and a turning point into bullish mode, above wave 4 swing.

German DAX - 1hr

EUR/USD

On EUR/USD we are tracking a nice impulsive decline from recent highs, which could be in its final stages, as we can already count five visible sub-waves on the line chart. Line charts sometimes make price data easier to read, than the bar chart. That said we now think, that price can potentially make a temporary bullish run as in an A-B-C corrective from, that can find possible resistance near 1.1480 zone.

More weakness could then be in the cards.

EUR/USD - 1hr