Quarter Ends, Setup Begins: Long from DAX Support ZoneDAX returned to its major support zone around 22,000 after an extended decline through March. I’ve been triggered into a long position as we step into a fresh month and quarter. We’re sitting at strong historical demand with multiple macro events lined up this week—I’ll take what the market gives and manage it accordingly. No ego here, just flow with the setup. Let’s see where this one heads as NFP and PMI data come in.
Technicals
• Timeframe: 1H
• Entry Zone: Strong support retest at 22,000
• Setup: Long triggered on reaction from major support
• Target: Zone around 22,950
• SL: Below the support zone (~21,800)
• Fibcloud: Still trending below, watching for reclaim
• End-of-month rebalancing and Quarter close may add volatility.
Fundamentals
• DAX dropped nearly 2% on Monday, hitting its lowest levels since Feb 10, in line with global market weakness.
• US trade tariff uncertainty under Trump’s “reciprocal” rhetoric weighs on sentiment.
• Germany’s CPI eased to 2.2%, the lowest since Nov 2024, aligning with market expectations.
• Q1 performance remains strong overall, up nearly 11%, supported by Germany’s spending plan.
• Eyes on this week’s NFP and PMI data which could drive further price action.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.