IMHO, the DAX is in a corrective phase, with more downside still imminent the instrument as been as analysed as follows: Current price is 12638.69, price is within the tiny resistance band from 12630 - 12640, should this hold, will sell to target 12550-12500 as TP1 THEN 2nd target 12420 and third target between 12300 -12270. If the current resistance band fails...
Price has 80% probability to reach the median line of a Pitchfork and overally I am still long term Bullish with reasonably still valid bullish targets on this pair (see my previous chart and analysis on GBP/JPY), so if this bearish scenario does not play out it may re-validate my bullish scenario chart posted on 4th May..for a "bulls goes to market...
Analysis and targets are on chart, will post a lower timeframe chart later
The price level 75.54 keeps calling out to me, don't know how it got my phone number but will wait and see how this pans out. We keep this simple, analysis and Targets are on charts. Possibility of a bounce is present around the location of the first target, if we get a zoom through then hold sell for at 75.54. Happy trading.
CADJPY heading down? target areas on chart
..will be buying deeps to at least 152.8.