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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: 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: 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: 01 Jul 2020Tuesday's session was considerably slower to what we are used to. Once the session opened, Dax took a direction to break the previous day high, as suggested by the Statistical application. The day was closed in the black numbers but the volatility was really low. Dax remains in the consolidation range where the odds are still neutral. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMIs 20:00 CEST - FOMC Meeting Minutes Today's session hypothesis The month of July opens with a descending gap and we expect the closure, also for the reasons that Dax is still in the consolidation range and the trading activity is mostly sideways. We don't have a clear directional bias and our key S/R zones remain unchanged. Keep an eye on the Eurozone PMI reports in the morning session and the FOMC later in the US session. There is no clear scenario as of now, and we're awaiting what markets offer.
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
Dax daily: 29 Jun 2020On Friday, we anticipated that Dax will remain in its consolidation range above 12 151, however, sellers found enough strength to break below this zone, keeping the price suppressed. Not only the session was closed at its daily low but the significant volume of orders moved lower as well and this signifies the sellers' dominance. Important zones Resistance: 12 151 Support: 11 829 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Monday's session started with a descending gap, yet the bearish sentiment doesn't fully control the initial trading hour. The price is confidently heading towards the weekend gap closure at the time of writing. For today, we have two important zones marked nearby - 12 151 as the resistance and 11 829 as the support. It is quite possible that we'll see some correction of Friday's drop before bears step in again to target 11 829. Have a good trading week!
EUREX:FDAX1!
by FTMO
Dax daily: 24 Jun 2020As we predicted yesterday, Dax made its way outside of the consolidation range when it broke out of the resistance at 12 494. Just as we wrote, this breakout was a clear signal to retest another S/R level in the row and that is exactly what happened. Dax continued to hit the resistance at 12 595 where the price bounced back down and returned to the range of the past week. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Yesterday's price action gave us a signal that there is a mood in the markets and Dax has tendencies to continue higher. Considering that yesterday's breakout led to a retest of another S/R zone, we can understand this as the confirmation of the sentiment continuation probability. The major US indices futures also play in our favour as they gain in the morning trading hours and the correlation with Dax is often quite likely.
EUREX:FDAX1!
by FTMO
Dax daily: 23 Jun 2020Dax gave us a fake signal yesterday when it faked-out below the 12 151 S/R zone. The price very quickly returned to the consolidation range of the past week, levelled between 12 151 and 12 494. The daily range was relatively standard and we haven't even seen much volatility. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMI reports Today's session hypothesis Considering the fact Dax hasn't moved away from its consolidation range lasting one week already, we have no reasons changing the outlook. The Statistical Application also doesn't generate any probabilities in these situations and Dax awaits any decisive catalyst that will propel the price development. This could be today's PMI reports from the Eurozone or volatility in the main US Indices. These appear to be on the crossroad between the artificial positivism of re-opening the US economy, as created by Trump's administration, and a fear of the upcoming second wave of the pandemic. We now need to monitor the price action but mainly the breakout from the current consolidation.
EUREX:FDAX1!
by FTMO
Dax daily: 22 Jun 2020The last session of the past week turned out well for sellers. They managed to get down to a support level at 12 151 where we saw a slight correction before Dax broke to the downside and closed the week lower at 12 112. Important zones Resistance: 12 151 Support: 11 829 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis After a long time, today's session opened without a weekend gap. Dax hasn't moved anywhere yet to determine the initial directional push. Following Friday's session outcome, we slightly favour bears now. Their target could now be the previous fair value from 15 Jun, laying at 11 829. Our upper S/R zone will certainly be an interesting one as it could be a decisive factor between buyers and sellers. Should the price return back above, Dax would trade in the same consolidation range where it was last week.
EUREX:FDAX1!
by FTMO
Dax daily: 19 Jun 2020Thursday's session was quite interesting. We anticipated that Dax was likely to trade in its range and the resistance at 12 494 really served to just reject the upward price move. It is apparent this S/R zone is valid and those who had limit orders around this level can pride themselves with nice profits. Dax then moved to the middle of the range and we start fresh from the same levels, again. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Friday's session starts near the previous day and the first trading hour is dominated by buyers. It seems that bulls are likely to target 12 494 yet again and we stick to our yesterday's bias. We anticipate the retest and/or breakout of the nearest S/R zones and we incline more towards 12 494's side. If buyers don't want to go above there, the support at 12 151 isn't much stronger.
EUREX:FDAX1!
by FTMO
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Dax daily: 16 Jun 2020Yesterday's session showed us very clearly that buyers don't give out their gains of the past month. Dax was ascending since the open, without any pullback or correction. The price sliced through the 11 734 S/R zone without any sign of slowing down and closed the day up at 12 084 near its daily high. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 11:00 CEST - German ZEW Economic Sentiment Today's session hypothesis Against all odds, we haven't witnessed the low volatility as expected. The gap today suggests the volatility is likely to stay in the markets today as well. Dax opened the day with an ascending gap, priced at 12 288. The price is now above the S/R zone of 12 151, which is now being eyed as the most important level for bullish traders. We anticipate a pullback towards this area where buyers are likely to show their strength. If there is no will to get to 12 151, the resistance of our interest lays at 12 494 which is a very nice target to be retested.
EUREX:FDAX1!
by FTMO
Dax daily: 09 Jun 2020Yesterday's price action has, again, brought great profiting opportunities and Dax added another day to its bullish uptrend, even though the daily range was relatively standard. Right with the open of the European session, the price retested VPOC from Friday and continued consistently towards our resistance of 12 882 where it exemplarily bounced back lower and we were presented with another long entry opportunity on the pullback, below Friday's fair value. Dax eventually broke the resistance and closed at it's high at 12 934. Important zones Resistance: 13 119 Support: 12 592, 12 882 Statistics for today Detailed statistics in the Statistical Application The statistical probability of yesterday's High breakout is 90% Macroeconomic releases NIL Today's session hypothesis Dax has opened the day in the near vicinity of the 12 882 S/R zone. We see good chances right at the beginning of the session, especially for closing the gap towards yesterday's close and also retesting this value with the probable scenario of bullish continuation. The Statistical application also favours this thesis as the indication is for a 90% probability of yesterday's High breakout. We don't have any fundamental releases scheduled for the day hence we stick with our hypothesis uptrend continuation, best on pullbacks until we see some clear signs of a correction.
EUREX:FDAX1!
by FTMO
Dax daily: 08 Jun 2020Welcome to the new trading week. Our analysis on Friday turned out very successful, again. According to our statistical application, we saw the closure outside of the previous day range as this hypothesis had a high statistical probability. Dax continued in its bullish traction all the way towards the resistance level at 12 882 and the NFP print helped considerably in this. We haven't yet seen the correction. Important zones Resistance: 12 882, 13 119 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis A strong uptrend is underway and nothing suggests it should change. For some time already, we anticipate the correction, but Friday's NFP release hasn't really supported this vision, quite the contrary. There is a wave of optimism in the US markets but this is considered unsubstantiated if not false by many analysts. We'll only see the real economic impact of the coronavirus crisis with a delay. The US Indexes reacted to the labour data with obvious positivism and Nasdaq has printed another new record high, wiping out the entire crisis sell-off as if nothing happened. Dax is enjoying this correlated wave of markets optimism. The volume of orders has shifted higher to 12 800 and this week opened at this level, without a significant gap. Until we get some signs of a correction, we prefer to follow the trend with entries at pullbacks.
EUREX:FDAX1!
by FTMO