The reason for lower EURUSD move is also a rising European stock market. We have seen a very nice push up on DAX recently, probably a break higher into an extended wave 5 as shown on our updated hourly chart. It's a powerful move from the last 24 hours which should unfold in five sub-waves from 11680, so we can expect more upside in the near future, ideally up to 12100 zones based on our Fib. projections.

German DAX, 1H

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