GBP/USD reached the support zone after forming a double top at the resistance area.
It might go lower, testing the fibonacci levels of the recent long trend, or bounce back and break the double top formation after a short squeeze.
The DAX is forming a possible ABC correction in the wave X2
The wave B could be finished around 13.450 at the end of today (100% in time of wave A)
Hence the TP for long trades is around 13.450 / 13.500 same time looking for resistance and short momentum in that area.
If the count is correct then WTI is in the 5th of the big 3rd wave, right now building the small correction wave 2 of 5
Because of the lengths of the 1st wave (of 5) it looks like price is working on an extended 5th wave. Which makes sense if the big 3rd has the target around the 161% fibo extension level.
Short term the marked could retrace until the 60$ zone...
With the recent all time high, the 5th of the big 3rd wave might be finished.
What follows is a big correction into the 4th wave, retracing until the 23% to 38% Fibonacci level.
It could look like the move in 2015 - wait for confirmation in the daily chart.
After a breakout of the triangle we see an ABC correction, a possible retest of the breakout which should stop around 13.020
The BIG C wave might not be finished yet and price could fall until 12.8XX to finish the correction.
However over 13.070 we are back in the trend, old target around 13.500 (see older posts) are still on the table.