DAX recovered slowly from Feb 09 lows, but still in five waves, labeled as a leading diagonal. As such we are anticipating a three-wave pullback now that may stop at 12,263 or maybe even deeper at 12,100 area. If we get a bounce from one of these levels, we will turn aggressively bullish for wave C/3 towards 12700.
German DAX, 1-Hour
USD/CAD is breaking above the upper channel line, which suggests a completed correction within wave 2 at the 1.245 level and more gains to follow. If we take a closer look we can already see price trading within red wave iii) of one, that can take price even higher.