Dax daily: 25 Jul 2019 Yesterday we had a clear bullish bias as the statistics suggested the retest of previous day high and the gap closure. Both of these statistics were successfully fulfilled and those who took advantage of this might have scored nice profits. The beginning of yesterday's session started with a slight downward move caused by French and German PMI reports, before the price reversed to the upside as expected.
Important zones
Resistance: 12 576, 12 645
Support: 12 437, 12 470
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability of closing the gap is 70%
Macroeconomic releases
13:45 CEST - ECB Main Refinancing Rate
14:30 CEST - ECB Press conference
Today's session hypothesis
Today's open started with a small ascending gap sized 17 points. Once again, this one has a good statistical probability of being closed. We've had two uptrending days in a row and the momentum is weakening. The price is currently at 12 576, which is a resistance level. It will be interesting to see the initial move out of here. Should Dax head even higher, then the next resistance area of our focus is 12 645. On the other hand, if bulls stay calm, we anticipate the slow down in yesterday's range. However, needless to say it's a super Thursday for ECB. The interest rate is expected unchanged and Mario Draghi needs to address some measures with regards to economic stagnation.
