The German DAX gaped higher and now already turning down to fill the gap. We suspect that sooner or later the index will turn lower into a new corrective decline, but would have to see a drop below 12846 to confirm a change in trend.
German DAX, 1 hour
A move down on the DAX may be supportive for the euro/U.S. dollar (EUR/USD) currency pair, which is pointing higher after that turn up from 1.17000 and now also broken the trendline resistance. There is room for a minimum three wave recovery to 1.1840/60 while USD Index is underway back to 93.00.
EUR/USD, 1 hour
USD Index, 1 hour