Consolidations And Big Profits
The EUR/USD slipped below 1.05 but stopped its fall slightly above 1.0480 before consolidating again around 1.0530. If the pair now falls again below 1.0490, we see increased chances for a bearish move back toward 1.04. As stated in yesterday’s chart analysis and with a break above 1.0610, we may see a bull run for 1.08.
The GBP/USD reversed after touching again the support area around 1.2170. After days of consolidated movements, we may now see some larger moves with a higher target at 1.24. A fall below 1.2150 however, would shift the focus back to the 1.20-threshold.
DAX: We were able to catch a bigger fish yesterday with our 100-points-gain short trade. The index fell towards 12800. If it remains below 13300, we anticipate lower targets at 12600 and 12300.
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