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Dax daily: 30 Jul 2020Dax hasn't really gone anywhere yesterday. There was almost no volatility in the market and the situation resembled a calm before the storm. The price was oscillating in the narrow consolidation range below 12 882. The FOMC has supported the price slightly towards the end of the session and Dax closed in positive numbers for the day. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's analysis will not bring any breaking news. Ultimately just for the fact that Dax hasn't moved anywhere yesterday, our hypothesis remains unchanged. The resistance at 12 882 is now a key zone and we rather anticipate shorts, in spite of yesterday's positive close related to temporary volatility caused by FOMC. The consolidation of the past days doesn't provide relevant signals and we have to wait for some serious price action. Remember that no trade is a good trade, sometimes. There is a row of macroeconomic events from the Eurozone in the early London session, yet all of those have low importance.
EUREX:FDAX1!
by FTMO
Dax daily: 29 Jul 2020If you take a look at yesterday's price action and our analysis, you will understand how important the S/R level was in relation to the price development and the past price consolidation in the same area. Dax was oscillating there for a few hours in the early morning session, before finally finding its direction. Bears took a lead and broke below the lows of the past two days. The move to the downside is relatively good, however it is not strong enough to classify that as a downtrend. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 20:00 CEST - Federal Funds Rate + FOMC Statement 20:30 CEST - FOMC Press Conference Today's session hypothesis We start the session near yesterday's low. Why do we think we don't feel a strong selling mood? The price is still in the consolidation range of the past few days. This consolidation played its role when Dax bounced from the bottom of the range at 12 736. The volume is distributed relatively well and the low of the session looks quite strong. Sellers, however, have space for further shorts all the way towards 12 592.
EUREX:FDAX1!
by FTMO
Dax daily: 28 Jul 2020Yesterday's session turned out as expected. The price action truly was slow, if not lazy, and Dax hasn't really gone anywhere. The price oscillated just below 12 882 zone and the daily close was very slightly positive. Is this a good hint for buyers? 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 For today, we don't have any scheduled macroeconomic releases that could amp Dax. There is no overnight gap either. And to top it up, yesterday's price action hasn't really done anything yesterday and so we'll stick to our hypothesis and monitor the price development around 12 882 S/R zone. If sellers turn out to be more aggressive, our scenario is clear. Stoploss below 12 765 while targeting 13 119. This currently makes sense to us. Contrary, should the initial momentum reverse, we'll look at 12 592 as our target.
EUREX:FDAX1!
by FTMO
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: 24 Jul 2020For yesterday, we expected the retest of 13 235 followed by a possible correction to the downside. Buyers were not able to get all the way to this level as bears took dominance of the market. The whole intraday session was then characterized in a clear directional move to the downside and this lasted till the close. Dax corrected its uptrend of the past days and the pice is comfortably below 13 119 and near the support of 12 882. Important zones Resistance: 13 119, 13 235 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMIs Today's session hypothesis After seeing yesterday's price action with the close at its low, the scenario offered itself to break the previous day's low. Regardless, Dax opened with a descending gap and fulfilling this thesis right away. At the time of writing, the price is correcting its drop and chances are to see the gap closure early in the morning trading session. We anticipate today's session to remain above the support level of 12 882.
EUREX:FDAX1!
by FTMO
Dax daily: 23 Jul 2020Market participants were completely indecisive yesterday. For the whole trading session, Dax has gone literally nowhere with price sitting around 13 119. If we take a look at M30 chart, price action and candle formation, we can read the rejection of sellers as noticeable by the clear Doji candle. Important zones Resistance: 13 235, 13 519 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Our zones remain unchanged. Yesterday's level around 13 119 can now be classified as the important S/R zone. Dax opened the day with a bullish activity and we're getting early signals for an uptrend activity continuation. In this scenario, we are looking to target at least the nearest resistance, which is now at 13 235. We can see a correction attempt from there.
EUREX:FDAX1!
by FTMO
Dax daily: 22 Jul 2020The positive continued yesterday as we expected. The price reached above 13 235 resistance and we've noticed the biggest volume of orders for the entire day session. Unfortunately, Dax hasn't stayed long in those levels and the afternoon session wiped out all gains, dropping down to a support level of 13 093. Important zones Resistance: 13 235, 13 519 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session opened near Friday's close and Dax is now retesting yesterday's close. This is good news for sellers as the initial signal implies that buyers are not fully convinced of their strengths. Needless to say that Dax is still in the uptrend which is uninterrupted. We anticipate the repetitive test of 13 125 which could be a good level for bearish traders.
EUREX:FDAX1!
by FTMO
Dax daily: 21 Jul 2020What we saw on Dax yesterday was a nice 'fakeout' example of the 12 882 S/R zone and a good example of the reactive activity below the key level and Thursday's fair price. Buyers stepped in to correct the early morning impulsive pressure an as expected, the price headed towards our target and almost hitting 13 119. Important zones Resistance: 13 235, 13 519 Support: 13 093 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Yesterday's mood on Dax and on the US indices was fairly positive. Not only there is a vision of clinical testing results of the Covid-19 vaccine, but market participants expected a progressive dialogue at the EU Economic Summit and finding a deal after many days of talks. EU finally reached a deal overnight as the member leaders found stimulus of 750 Billion Euro fiscal recovery fund and this comprises of grants and low-interest loans. After this news, Dax jumped higher to open with a big ascending gap, levelled between two S/R zones. We anticipate the positive mood continuation with the chance of pullback towards 13 093 as this corresponds with yesterday's high.
EUREX:FDAX1!
by FTMO
Dax daily: 20 Jul 2020On Friday, the price remained around 12 915 and the market balance was confirmed again. As we expected, Dax traded rather sideways without any reasonable volatility. Bullish traders managed to close the session on its daily high, but it definitely wasn't a signal of an uptrend. Important zones Resistance: 13 119 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The week opens with a reasonably small descending gap. The price is, once again, at the VPOC of the previous trading session. 12 882 is now the support level and if buyers are to take the price higher, this S/R level could serve as a very good entry level with the target to 13 119. The last two sessions of the past week can also be understood as an insufficient signal of the bullish strength, despite the clear upwards direction, yet without much momentum. Contrary, should 12 882 be broken to the downside, Dax has a lot of free space towards 12 592.
EUREX:FDAX1!
by FTMO
Dax daily: 17 Jul 2020Yesterday's analysis turned out as expected, again. The market stalled around 12 882, closing the gap and retesting the VPOC of the previous day. Dax stalled around this level and hasn't taken any clear direction afterwards. Important zones Resistance: 13 119 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The price opened without any significant gap today and Dax is currently trading around yesterday's VPOC of 12 915. It will be important to observe the price behaviour of higher volume in the current range. Dax is now at the level where market participants are willing to trade and consider it adequately priced. For such reason, we don't expect any rapid bullish move but rather a slower move sideways.
EUREX:FDAX1!
by FTMO
Dax daily: 16 Jul 2020Yet another great prediction. If you've read our analysis yesterday and traded it accordingly, we congratulate you for great profits. As we predicted, the price had an initial push lower to closed the gap, which correlated with past VPOC. This was the level which had double significance for buyers who stepped in to take the price to 12 882 and even broke out this resistance. This one functioned to suppress further bullish momentum and Dax quickly returned to retest its importance. The price was oscillating up and down, just to close the day on the same level and formed the VPOC slightly above it. Important zones Resistance: 12 882, 13 119 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 13:45 CEST - ECB Main Refinancing Rate + Monetary Policy Statement 14:30 CEST - ECB Press Conference 14:30 CEST - USA - Retail Sales & Unemployment claims Today's session hypothesis Today's session opened below 12 882. Market participants will most likely attempt to retest yesterday's close as it correlates with the S/R zone and the VPOC too. This is the area where we'll need to monitor the price action to further establish directional bias. Dax is slowly aiming higher and if the continuation prevails, our bullish target lays up at 13 119. Stay on alert as we have a day packed with fundamental releases and these could easily rock the boat.
EUREX:FDAX1!
by FTMO
Dax daily: 15 Jul 2020Yesterday's price action was a great example of the rational behaviour of the market participants. As we mentioned in our analysis yesterday, the zone around 12 592 was important for establishing further price development, with the break outside signifying the continuation in that particular direction. Dax oscillated the entire European session before gaining momentum in the afternoon and we could target our trades to previous day VPOC. That is exactly what happened and Dax closed the day at the fair value with the biggest amount of orders. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax opened the day with an ascending gap and the first morning impulse attempts to close the gap. Considering the fact we have the resistance of 12 882 in near vicinity, we're now eying a lovely scenario of closing the gap as it correlates with the VPOC of Monday and then targeting the retest of resistance at 12 882 and possibly break higher. There are no fundamental releases scheduled for Dax today, but the optimism on the US stock markets dominates the market sentiment across the board, even despite the negative echoes of the US-China dealings. Consider it's the earning season too. Should the price get above 12 882, there is a lot of space ahead of us to continue our long bias in the short to the mid-term horizon.
EUREX:FDAX1!
by FTMO
Dax daily: 14 Jul 2020Yesterday's session opened with an ascending gap. However, from the beginning of the session, sellers proved their dominance as they pushed the price lower all the way through the support of 12 592. Dax even closed the day below this zone but today's open impulse retraced back above. Important zones Resistance: 12 882 Support: 12 592, 12 494 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 11:00 CEST - German ZEW Economic Sentiment Today's session hypothesis For today, we've started with a retracement above 12 592 and we have two options on the table. The first one is that Dax will continue higher to correct yesterday's drop or the price will continue in the impulsive bearish momentum that we've seen last evening. In this case, Dax is likely to drop below the support level of 12 494 and a lot of room would open to target another zone down at 12 278. Mind the ZEW Economic Sentiment release today.
EUREX:FDAX1!
by FTMO
Dax daily: 13 Jul 2020Appearances are deceptive. Despite Dax opening with a descending gap and back in the consolidation range on Friday morning, it turned out that bearish impulse was a fake one. Contrary, bullish traders took advantage of the lower prices and dominated the entire session. Not only the price corrected the overnight sell-off and closed the gap, but the ascending slope was so prominent that we had no chance to re-enter on a pullback and Dax grew continuously in a clear bullish direction. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax feels a positive sentiment and the price opened with a big ascending gap over the weekend, at 12 835. The first morning impulses almost retested the resistance level at 12 882. Thursday's VPOC is printed at 12 635 and there is a support of 12 592 in its close vicinity, giving the area the needed importance. We incline to retest at least one of these levels and then aim the resistance at 12 882. There are no macroeconomic events scheduled for the day and we'll monitor the behaviour of the US Indices and the correlation of Dax to their price development.
EUREX:FDAX1!
by FTMO
Dax daily: 10 Jul 2020For yesterday, we expected bulls to attempt for higher levels. The morning session was positive in this sense, but then we saw a rapid sell-off, even below 12 494. This is where the support level functioned nicely but the momentum wasn't that strong co correct the down push. Important zones Resistance: 12 494, 12 592 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The price opened with a significant descending gap, priced at 12 418. We are now far below 12 494 which changes our lookout from the previous days. As a matter of fact, the drop signifies that bulls are not present in the market or they are not willing to push the price higher under current market circumstances. We now have to re-evaluate the directional bias, based on the signals we spot in the price action. Since Dax opened below the support level, the price can easily continue to lower levels. The zone around 12 278 is the real support area we could target.
EUREX:FDAX1!
by FTMO
Dax daily: 09 Jul 2020As we thought, the retest and breakout of 12 592 really happened. Since the open, the price took an upward momentum and broke the S/R level for a short period of time. Bears stepped in and corrected the morning push back to 12 494 and proved the significance of both zones. The session was very interesting and the false breakouts could have caused troubles to some trading styles. 12 494 remained supportive and Dax bounced back to the upside, closing almost at 12 592. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session starts with an ascending breakout and the gap being closed already. We stick to our bullish bias but it's quite possible we'll see a correction towards 12 540, which is the VPOC level of yesterday. Should Dax descend there, we'll understand this as a good entry level for buyers, targeting 12 882. Today's volatility might also be influenced by the Eurogroup meetings throughout the day.
EUREX:FDAX1!
by FTMO
Dax daily: 08 Jul 2020Yesterday's session hasn't turned out exactly according to our expectations. Although Dax descended lower to retest our Support zone at 12 592 as we predicted, the price continued lower instead of reversing to the upside. Dax very precisely respected Friday's VPOC in correlation with the Support level at 12 494 and held further sell-offs. Important zones Resistance: 12 592 Support: 12 494 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The price opened in the very near vicinity of the S/R level at 12 494 with the initial 'fake-out'. It appeared the initial impulsive move took Dax back to the consolidation range of the past weeks, yet it is apparent that it is the range that buyers want to avoid hence retracing the initial drop. We don't have any important macroeconomic events scheduled for today, but tomorrow's Eurogroup meeting could serve as the catalyst to bring some momentum for Dax. The statistical probabilities are also silent for today hence we target the nearest resistance level at 12 595 to either be retested or broken to the upside.
EUREX:FDAX1!
by FTMO
Dax daily: 07 Jul 2020Yesterday's session started optimistically and at one moment, it looked like buyers head straight towards 12 882. But as we know, appearances are deceptive. Sellers stepped in to suppress the bullish attempts and dominated the rest of the session. Bearish traders took the price lower to retest Friday's high, yet failed to close the weekend gap. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session opened with a descending gap. At the time of writing, Dax continues in the gap direction towards 12 592, which is the nearest S/R zone. After some struggles, buyers managed to get the price out of the consolidation range of the previous weeks and we believe these attempts won't be easily halted. Chances are that 12 592 will be an important zone to support the price and a good entry point for buyers. The least we're eyeing is the return to 12 715 and then attempts to target 12 882.
EUREX:FDAX1!
by FTMO
Dax daily: 06 Jul 2020No further price growth has been witnessed on Friday. After retest of the previous High, Dax pulled back to 12 494 S/R level and consolidated there for a time being, just to respect this zone and range slowly towards 12 592. The daily volatility was low due to a bank holiday in the US. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax took a bit of a delay since Friday's prognosis and opened the week with an ascending gap. The price opened at 12 776 and is descending slowly at the time of writing. Dax is now above the consolidation range and the nearest resistance level lays at 12 882. This might the most important target for bullish traders and we'll be eying to focus our attention there as well. It is, however, very likely that Dax will first retest Friday's levels and the retest of 12 882 comes later in the week.
EUREX:FDAX1!
by FTMO
Dax daily: 03 Jul 2020We predicted yesterday that Dax was on its way to target 12 494. This analysis turned out correct and the price reached all the way to 12 592. This is also where the new fair value was formed - the balanced price with biggest volume of orders. Despite the correction of the last trading hour of the session, yesterday's session can be classified very positively for buyers. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMIs Today's session hypothesis Friday's session starts with an ascending gap and it looks like the continuation to the upside is likely. We have enough space ahead of us without consolidation and we'd like to see market participants taking advantage of the price momentum. After breaking above 12 494, Dax gave us a clear signal to continue to higher levels. Another resistance in sight is up at 12 882.
EUREX:FDAX1!
by FTMO
Dax daily: 30 Jun 2020The week started with a price correction and Dax reached 12 151 as we anticipated. Take a look at how nicely this zone functioned. This was the level where buyers and sellers battled over the dominance of further price development. Bulls won this call and took Dax back to the consolidation range. Again. The price is now in a balanced area where it is understood as fairly valued. The session was closed in the black numbers and at its daily high. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session could be optimistic for buyers. As per the Statistical application, there is an increased probability of breaking yesterday's high, which, unfortunately, is relatively very near so it doesn't offer good RR. The consolidation range is quite wide and it's not yet fully clear where the price might head. The resistance at 12 494 is relatively far away but if we had to favour one side of the story, we have a bullish bias in the mid to long-term horizon.
EUREX:FDAX1!
by FTMO