DAX upside threats intact

Intermediate

A Friday dip below 12061.5 support and then a firm rebound from 12047.5 to sustain upside forces from the entire June recovery rally and keep risks higher Monday.

The June push above 12123.5 set an intermediate-term range seen as 11595 to 12318.5, BUT with risks now for a bullish shift.

For Today:

  • We see an upside bias for 12179.5; break here aims at 12224/246 maybe key resistance at 12318.5.
  • But below 12047.5 and 12027.5 opens risk down to 11964.

Intermediate-term Range Breakout Parameters: Range seen as 11595 to 12318.5.

  • Upside Risks: Above 12318.5 sets an intermediate-term bull trend to aim for 12463.5, 12586 and 12873.
  • Downside Risks: Below 11595 sees an intermediate-term bear trend to target 11285, 11000/10900 and 10701.5.

Resistance and Support:

12179.5 12224/246** 12318.5*** 12337 12463.5**
12047.5/27.5* 11964* 11895/883** 11805 117095**

 4 Hour DAX Chart

dax

Comments on this analysis

Your email address will not be published. Required fields are marked *


Latest News

S&P 500
Stocks firm after the Fed Meeting (S&P500)

The Fed cut rates as many forecasters had expected on Wednesday 18th September by 0.25%. However, they also signalled that they are now likely on hold, with another rate cut probably unlikely in 2019. Global equity averages initially turned lower, but then US markets staged strong rebounds into the close on Wednesday, though have drifted … Continued

S&P 500
S&P500, German DAX and USDNOK Intra-day Updates

E-mini SP500 futures are slightly turning down at the start of the US sessions, but may not be nothing exciting ahead of the FOMC decisions when real bears may show up if our technical view is correct. German Dax can be in similar path. S&P500, 1h German DAX, 1h USDNOK remains trapped in consolidation; looking … Continued

USDJPY Chart
USDJPY stays strong into the Fed Meeting

USDJPY keeps plugging higher, despite the modest shift back towards a risk off environment this week in the wake of the weekend attacks in the Middle East and the surge (and subsequent setback) in the oil price. However, this has NOT seen the Japanese Yen as the main, go to safe haven, with the US … Continued

EURUSD Monthly Chart 2019-09-17
EURUSD and USDCAD spot recap – 2019-09-17

EURUSD holding 1.0985/80 allows a recovery to 1.1020 & strong resistance at 1.1040/50. Try shorts with stops above 1.1065. Next target & strong resistance at 1.1090/99, shorts need stops above 1.1115. A break higher is an important buy signal targeting 1.1130/35 & 1.1165/70 with strong resistance at 1.1180/90. A break below 1.0980 targets 1.0970/60 & … Continued


Forex Brokers in your location