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DAX succumbs to profit-taking as EUR/USD straddles 1.08

Since my last update here, the DAX has fallen back and so has the FTSE 100 too. Earlier the DAX again tried to rebound above above 16,830, but met with resistance again up there once more and that has now led to a deeper pullback, towards 16,750. I did note again earlier; that the RSI on this was over-cooked and that might have helped to push the index lower since then. The EUR/USD moving above 1.08 on the current dynamics might have helped it lower too, but at the same time that is not consistent with the more usual correlation. Nevertheless, that seems to have shifted 180 degrees in more recent trading. The DAX is currently trading at 16,765

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