Day trade outlook:
A significant selloff on Wednesday through key supports at 9422 and 9411.5, to confirm a Triple Top pattern, to reinforce Tuesday’s recovery failure from below the recent recovery peak at 10117 (down from 10073), to keep the bias lower for Thursday.
- We see a downside bias for 9300; a break below aims for 9188.5 and maybe 9068.
- But above 9593.5 targets the 9735/40 area and maybe towards 9924.5, even 10073.
DX intermediate-term outlook
The late February plunge below 13219 signalled an intermediate-term shift to a bear trend.
- Downside risks: We see an intermediate-term bear trend and risk for 7422 and 7000/6948.
- What changes this? Above 11417.5 sees an intermediate-term range and through 12275.5 an intermediate-term bull trend.
4 Hour DAX Chart