German DAX
We have seen a spike higher on DAX at the start of the futures market open, but the price came down very sharply back to the 10600/40 area where we think the market can be looking for a support once again. On the updated chart we are still looking at wave four, which can be a flat so we stay bullish here for wave five rally up to around 10800 region or maybe even higher.
German DAX, 1H
NZDUSD
The market saw a cut of 25bp yesterday for New Zealand dollar, but the pair moved higher anyhow as a cut was expected so the reaction was clearly technical. So far, we have seen a nice move down from 0.7342 area, but it’s a little bit early to confirm a top in place. However, if the market will experience more weakness in the sessions ahead, then I would be interested in short ideas on a pullback.
NZDUSD, 4H
