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Dailyoutlook

EURGBP OutlookPotential for a long position on EURGBP over the next coming days Schiff fork touches the edge of the channel, which is the same area where we have had prior bullish signals this year (see candles highlighted) thereby making this a likely area of reversal from the current downtrend that began around this time last month If the price holds in this outlined area of 0.896 - 0.893 then we will have confirmation of an uptrend from the March/April lows when the 50D SMA crossed above the 200DSMA, and continuation of the ascending channel Failing this, we will look to the 200D SMA for support, the same area where the pair has found prior support and generated bullish candlestick patterns Strong resistance found at the 0.917 area
Long
by Pacorabs
Dax daily: 27 Jul 2020As expected, Friday's session started with a descend towards the S/R zone at 12 882. Bearish traders pushed even lower and the support didn't hold their strengths. The VPOC has also shifted below this zone and this can signify the lack of commitment for further longs and the end of uptrend of the past days. Important zones Resistance: 13 119, 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Monday sessions are statistically slowest for the German stock index. For today, we don't see otherwise and expect the trading activity to be limited around 12 882 level. Bounce away from 12 882 to the downside can cause a sell-off, but considering the consolidation price action around these levels, we don't expect any wild moves here.
EUREX:FDAX1!
by FTMO
Dax daily: 02 Sep 2019 Welcome to this first analysis of the month of September. Friday's session started by a relatively fast retest of our resistance zone at 11 899, which hasn't even slowed down the price momentum. The uptrend was seen until 15:00 when Dax corrected the bullish move by descending lower to retest the newly formed support at 11 899 which was our valid resistance at the beginning of the session. Dax closed in its upper range. Important zones Resistance: 12 037 Support: 11 868, 11 771 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMIs Canada & USA - national holiday Today's session hypothesis Today's afternoon session might be slower than usual due to public holiday in the US and Canada. Morning session might be influenced by the series of PMI reports from the Eurozone. We also have an increased statistical probability for breaking Friday's high. We could see buyers jumping in at around 11 868 and if that scenario turns valid and the high will be broken, sellers are likely to correct the upside move at 12 037. Considering the fact we also have an increased probability of closing inside Friday's range, it is logical to focus our targets back into the range should the price get above or below the high/low from Friday.
EUREX:FDAX1!
by FTMO
EURCAD Monthly/Weekly OutlookFirst off, there is a monthly Ascending triangle. The orange lines represent monthly zones. The circles show the touches of the trendline zone. So the monthly has some uptrend structure. When we look down at the Daily chart, we see at the market is currently in a downward parallel channel. However, I'm looking at it bouncing off of one of the bottom two green support zones with confluence of the trendline to continue that monthly uptrend and make it to the monthly resistance that the arrow stops at on the monthly chart at least. For now, I'm looking for it to possibly push back up to the top of the resistance line on the channel then come back down to one of those bottom 2 green supports then go up, or to break the resistance of the parallel channel retest it and start the uptrend now. Either way, I'm seeing that push up for the monthly ascending coming soon. I don't see this downtrend going down past those two bottom supports. But, we know these markets do what they want. So I could be horribly wrong. We will see. Trade at your own risk, I am not a professional and this is not professional advice. I just read some books and think I know a little something. PatiencePays
by PatiencePays777
Dax daily: 30 Aug 2019 We welcome you to this last Dax analysis of the week, month and summer holiday. Thursday's session appeared quite innocent in the first hour of trading. At 9 am, Dax shot firmly upwards and this momentum lasted till noon. At around 4:30 pm, Dax fell lower by some 90 points just to correct this volatile spike even above the initial fall. Important zones Resistance: 11 899 Support: 11 774, 11 700 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis It appears today we could finally close the resistance at 11 899 where we hope to find some sellers at the first retest. If we target the first one lower, buyers could be seen at 11 774 or even lower at 11 700. Should the price really drop down to 11 700, all our hypothesis for a bullish move turn invalid as that level is now distanced some 150 points away.
EUREX:FDAX1!
by FTMO
1
Dax daily: 09 Aug 2019 The session yesterday started with an ascending gap which was closed yet in the morning trading hours. Sellers took Dax to retest the support level at 11 716 where we saw a power shift and buyers regained control of the further price development. The session was closed at 11 823. Important zones Resistance: 11 901 Support: 11 716 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Another gap opening but with a different situation today. It was quite probable yesterday that the gap was to be closed, just as we highlighted. Price opened above previous day's range and gap was at a strong S/R zone which was likely to be retested. Today we open in the middle of yesterday's session and it's not clearly defined who has the advantage. The statistical application indicates a 50% probability which is another undecisive information for a price estimate. We are left to wait for the price action and follow the mood of the market. We estimate today's trading ranging between 11 716 and 11 901.
EUREX:FDAX1!
by FTMO
Dax daily: 11 Jul 2019 Wednesday's session was interesting too. Dax first started to descend towards our support at 12 326. shortly before this level, bulls took control and the price shot aggressively up. After a prudent upside move, Dax dropped again slowed down significantly. The statistical probability of closing inside the previous day range was also fulfilled successfully. The price opens with an ascending gap today. Important zones Resistance: 12 500 Support: 12 378, 12 328 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases United Kingdom - a row of news streaming throughout the London session (ref eco calendar ) Today's session hypothesis The initial price action of the session could offer the gap closure and finding some buyers. Should the price descend below yesterday's low and bulls appear around 12 328, then the breakout probability of yesterday's high is not on the table any more. Should bulls prove their strength right at 12 378, then the clear target lays in the form of an untested gap at 12 500. Beware of today's news from the UK and the CPI form the USA. Although this hardly has any effect, a big deviation could bring some volatility for Dax too.
EUREX:FDAX1!
by FTMO
Dax daily: 08 Jul 2019 Welcome to the first session analysis of a new week. Friday's price action has been quite fruitful. For a major session duration, Dax was dropping towards a consolidation zone from 02 July, where we found buyers and the price closed somewhere mid-range session trading. The US NFP was released at 14:30, but besides one volatile candle, no major reaction was seen. Today, the price opens with a significant short gap. Important zones Resistance: 12 564, 12 607 Support: 12 391 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today we could see the price ascending and closing the gap at 12 564. On this level, reversal or correction is very likely. Our major target in the upcoming days is very clear and this is the retest of the unclosed gap laying at 12 391. Should the price go below 12 469, it is likely the downside momentum might accelerate. If we don't see aggressive sellers at 12 564, we might rather see a slow-down inside Friday's range.
EUREX:FDAX1!Long
by FTMO
1
Dax daily: 24 Jun 2019 Welcome to a new trading week. Friday's session turned out as expected, but unfortunately, our zones didn't get a chance to play a role. The resistance at 12 337 and 12 373 didn't attract any sellers. They entered a bit higher at 12 409 and continued to dominate intra-day price action. Dax then closed just short of the support level laying at 12 219. Today, we open with a strong ascending candle and with a long gap. Important zones Resistance: 12 350 Support: 12 219, 12 191 Statistics for today Detailed statistics in the Statistical Application The statistical probability of breaking Friday's low stands at 96% Macroeconomic releases 10:00 CEST - German Ifo Business Climate Today's session hypothesis Today we have a very high probability for breaking Friday's low. For this reason, every short signal has a clear target. If and once that happens, we could find some buyers at 12 219 or 12 191. Even though we have such a high probability for a certain market occurrence, don't forget to always manage your risk and don't bet too much on one card.
EUREX:FDAX1!
by FTMO
Dax daily: 13 Jun 2019 Yesterday’s session can be characterized as a very lazy one. Dax first took a slight climb towards our resistance at 12 117 where we found some sellers. Following was a 55 points move down. That’s about it, nothing more interesting from the price action perspective as the price was ranging lazily for the rest of the session duration. The overall intra-day range was below the average 70 points. Today’s gap has already been closed. Important zones Resistance: 12 144, 12 194 Support: 12 012 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today’s session hypothesis Due to the fact the price hasn’t moved anywhere yesterday, our zones remain unchanged. If the price reaches 12 144, we expect to see some bearish push towards 12 012. Considering the fact there are no relevant news scheduled for the day, the session might turn out similarly to that of yesterday.
EUREX:FDAX1!
by FTMO
Dax daily: 12 Jun 2019 Our analysis yesterday met our expectations. Dax did not close the gap and went right up towards the 12 207 level where we saw some sellers taking over. There was even an intra-day high formed at 12 207. Following was a descend almost to the open level and today we open with an ascending gap. Important zones Resistance: 12 144, 12 194, 12 117 Support: 12 012 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today’s session hypothesis Today we can expect a move upwards to close the gap, which doesn’t have the highest statistical probability and therefore we hope to find sellers as soon as around 12 117. If Dax goes above 12 144, then the breakout of yesterday’s high has a very small probability of just 7%. In case sellers dominate the market, we could potentially find buyers around a nice support level of 12 012.
EUREX:FDAX1!
by FTMO