Following the US stocks higher

The US stocks are higher but so is the German Dax.

Looking at the daily chart below, the index is pressing the 38.2% and some swing highs from March at the 12441 area. A move above would be more bullish. The lower EURUSD seems to be helping the tone today. The EURUSD is testing its 200 hour MA and 50% retracement now at 1.2304-06. A move below the 1.2300 level will likely keep the run lower going. Justin reported earlier that Citigroup gave a more bullish review of the European stock market (click here).