Dax daily: 01 Aug 2019
And so August is here. Yesterday's price action was dominated by FOMC. Dax first closed the gap, found some buyers and then went idle. After the FOMC came out, the 83% statistical probability of breaking the previous day low was successfully fulfilled. The price closed the gap this morning right after the open.
Important zones
Resistance: 12 283
Support: 12 073
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
09:15 - 10:00 CEST - Eurozone PMIs
13:00 CEST - United Kingdom - Official Bank Rate, Statement, Votes & Inflation report. All of these could influence DAX as well.
Today's session hypothesis
Most of the time, days following the FOMC are relatively calmer. Moreover, it's a summer holiday season. We have a weaker support zone near the current price, laying at 12 073. That level could be used by buyers. From the price action perspective, it is difficult to estimate today's direction development. Talking about the probabilities, we have 80% for breaking yesterday's high or low and then there is a statistical chance of 78% that Dax might close inside yesterday's range. Taking this into account, it is rather wise to target our trades back into range should the high/low be broken.
Important zones
Resistance: 12 283
Support: 12 073
Statistics for today
Detailed statistics in the Statistical Application
Macroeconomic releases
09:15 - 10:00 CEST - Eurozone PMIs
13:00 CEST - United Kingdom - Official Bank Rate, Statement, Votes & Inflation report. All of these could influence DAX as well.
Today's session hypothesis
Most of the time, days following the FOMC are relatively calmer. Moreover, it's a summer holiday season. We have a weaker support zone near the current price, laying at 12 073. That level could be used by buyers. From the price action perspective, it is difficult to estimate today's direction development. Talking about the probabilities, we have 80% for breaking yesterday's high or low and then there is a statistical chance of 78% that Dax might close inside yesterday's range. Taking this into account, it is rather wise to target our trades back into range should the high/low be broken.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.