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
(Click on image to enlarge)
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