Image Source: DepositPhotosDAX has seen some deep pullback in 2023, but it was  A-B-C drop into the important 14400-14600 area from where we can see nice and clean impulsive recovery from that support zone, and back to new highs, so bullish trend is here, and it’s very strong one. Its a trend that can resume even higher within current wave III. And the reason is visible also with the smaller, short-term swings on 4h time frame which shows that the market is in the middle of an impulse with room for more upside as the current leg up since mid-February is extended, ideally wave 3, so more upside will come. However, nothing moves in a straight line, and possibly there will be new fourth wave retracement in next few weeks, but maybe barely from around 18500 – 19000 area. Support on the dip is 18000 – 17600 area. For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on March 25 2024:More By This Author:EURUSD Keeps Consolidating Within Bullish Trend
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