Euro/USD has created several bull flags in the last weeks and shows very strong bullishness. Because of the strength of the trend I think that the sideways correction is now over and we will hit the old high at 1.20 again, then a little bit sideways and then breakout with targets at 1.25 and more. This Idea can take half a year or so.
In the last month EUR/GBP made a retrace between 38 and 50 a lot in all time layers. Now this retrace level is hit in the daily charts. Also in this area there is the uptrend which should give a lot support, to get back up above 0.90.
Dax made a correction to 38.2 retracement and double testet it, at the moment this could be a good long setup with only 10 points of risk. CRV 1/6 or more.
Sentiment is against this idea, so be aware!
DAX created a double bottom the last days and also created a W Chart formation, which is shown in the chart. The formation made a retracement to 78% which is pretty much and should give the power to reach the area of 12680 and maybe 12800.
Trade can be entered at 12500 with tartet 12680 and stop 12380.
EUR/GBP is knocking on the 0,886 the last days, and also did so two times before. So with the third try a breakout to direction 0,90 seems possible.
Higher highs and higher lows are showing an uptrend. At the moment it is pending very close near the border to breakout.
GER30 has stopped by above 12300 points, while market is oversold reaching retracement and correct from this point on to above 12500 probability is higher for correction up to 12500-12600 then falling directly under 12300.
