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Ftmo

Dax daily: 23 Jul 2020Market participants were completely indecisive yesterday. For the whole trading session, Dax has gone literally nowhere with price sitting around 13 119. If we take a look at M30 chart, price action and candle formation, we can read the rejection of sellers as noticeable by the clear Doji candle. Important zones Resistance: 13 235, 13 519 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Our zones remain unchanged. Yesterday's level around 13 119 can now be classified as the important S/R zone. Dax opened the day with a bullish activity and we're getting early signals for an uptrend activity continuation. In this scenario, we are looking to target at least the nearest resistance, which is now at 13 235. We can see a correction attempt from there.
EUREX:FDAX1!
by FTMO
Dax daily: 22 Jul 2020The positive continued yesterday as we expected. The price reached above 13 235 resistance and we've noticed the biggest volume of orders for the entire day session. Unfortunately, Dax hasn't stayed long in those levels and the afternoon session wiped out all gains, dropping down to a support level of 13 093. Important zones Resistance: 13 235, 13 519 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session opened near Friday's close and Dax is now retesting yesterday's close. This is good news for sellers as the initial signal implies that buyers are not fully convinced of their strengths. Needless to say that Dax is still in the uptrend which is uninterrupted. We anticipate the repetitive test of 13 125 which could be a good level for bearish traders.
EUREX:FDAX1!
by FTMO
Dax daily: 21 Jul 2020What we saw on Dax yesterday was a nice 'fakeout' example of the 12 882 S/R zone and a good example of the reactive activity below the key level and Thursday's fair price. Buyers stepped in to correct the early morning impulsive pressure an as expected, the price headed towards our target and almost hitting 13 119. Important zones Resistance: 13 235, 13 519 Support: 13 093 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Yesterday's mood on Dax and on the US indices was fairly positive. Not only there is a vision of clinical testing results of the Covid-19 vaccine, but market participants expected a progressive dialogue at the EU Economic Summit and finding a deal after many days of talks. EU finally reached a deal overnight as the member leaders found stimulus of 750 Billion Euro fiscal recovery fund and this comprises of grants and low-interest loans. After this news, Dax jumped higher to open with a big ascending gap, levelled between two S/R zones. We anticipate the positive mood continuation with the chance of pullback towards 13 093 as this corresponds with yesterday's high.
EUREX:FDAX1!
by FTMO
Dax daily: 20 Jul 2020On Friday, the price remained around 12 915 and the market balance was confirmed again. As we expected, Dax traded rather sideways without any reasonable volatility. Bullish traders managed to close the session on its daily high, but it definitely wasn't a signal of an uptrend. Important zones Resistance: 13 119 Support: 12 882 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The week opens with a reasonably small descending gap. The price is, once again, at the VPOC of the previous trading session. 12 882 is now the support level and if buyers are to take the price higher, this S/R level could serve as a very good entry level with the target to 13 119. The last two sessions of the past week can also be understood as an insufficient signal of the bullish strength, despite the clear upwards direction, yet without much momentum. Contrary, should 12 882 be broken to the downside, Dax has a lot of free space towards 12 592.
EUREX:FDAX1!
by FTMO
Dax daily: 17 Jul 2020Yesterday's analysis turned out as expected, again. The market stalled around 12 882, closing the gap and retesting the VPOC of the previous day. Dax stalled around this level and hasn't taken any clear direction afterwards. Important zones Resistance: 13 119 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The price opened without any significant gap today and Dax is currently trading around yesterday's VPOC of 12 915. It will be important to observe the price behaviour of higher volume in the current range. Dax is now at the level where market participants are willing to trade and consider it adequately priced. For such reason, we don't expect any rapid bullish move but rather a slower move sideways.
EUREX:FDAX1!
by FTMO
Dax daily: 16 Jul 2020Yet another great prediction. If you've read our analysis yesterday and traded it accordingly, we congratulate you for great profits. As we predicted, the price had an initial push lower to closed the gap, which correlated with past VPOC. This was the level which had double significance for buyers who stepped in to take the price to 12 882 and even broke out this resistance. This one functioned to suppress further bullish momentum and Dax quickly returned to retest its importance. The price was oscillating up and down, just to close the day on the same level and formed the VPOC slightly above it. Important zones Resistance: 12 882, 13 119 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 13:45 CEST - ECB Main Refinancing Rate + Monetary Policy Statement 14:30 CEST - ECB Press Conference 14:30 CEST - USA - Retail Sales & Unemployment claims Today's session hypothesis Today's session opened below 12 882. Market participants will most likely attempt to retest yesterday's close as it correlates with the S/R zone and the VPOC too. This is the area where we'll need to monitor the price action to further establish directional bias. Dax is slowly aiming higher and if the continuation prevails, our bullish target lays up at 13 119. Stay on alert as we have a day packed with fundamental releases and these could easily rock the boat.
EUREX:FDAX1!
by FTMO
Dax daily: 15 Jul 2020Yesterday's price action was a great example of the rational behaviour of the market participants. As we mentioned in our analysis yesterday, the zone around 12 592 was important for establishing further price development, with the break outside signifying the continuation in that particular direction. Dax oscillated the entire European session before gaining momentum in the afternoon and we could target our trades to previous day VPOC. That is exactly what happened and Dax closed the day at the fair value with the biggest amount of orders. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax opened the day with an ascending gap and the first morning impulse attempts to close the gap. Considering the fact we have the resistance of 12 882 in near vicinity, we're now eying a lovely scenario of closing the gap as it correlates with the VPOC of Monday and then targeting the retest of resistance at 12 882 and possibly break higher. There are no fundamental releases scheduled for Dax today, but the optimism on the US stock markets dominates the market sentiment across the board, even despite the negative echoes of the US-China dealings. Consider it's the earning season too. Should the price get above 12 882, there is a lot of space ahead of us to continue our long bias in the short to the mid-term horizon.
EUREX:FDAX1!
by FTMO
Dax daily: 14 Jul 2020Yesterday's session opened with an ascending gap. However, from the beginning of the session, sellers proved their dominance as they pushed the price lower all the way through the support of 12 592. Dax even closed the day below this zone but today's open impulse retraced back above. Important zones Resistance: 12 882 Support: 12 592, 12 494 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 11:00 CEST - German ZEW Economic Sentiment Today's session hypothesis For today, we've started with a retracement above 12 592 and we have two options on the table. The first one is that Dax will continue higher to correct yesterday's drop or the price will continue in the impulsive bearish momentum that we've seen last evening. In this case, Dax is likely to drop below the support level of 12 494 and a lot of room would open to target another zone down at 12 278. Mind the ZEW Economic Sentiment release today.
EUREX:FDAX1!
by FTMO
Dax daily: 13 Jul 2020Appearances are deceptive. Despite Dax opening with a descending gap and back in the consolidation range on Friday morning, it turned out that bearish impulse was a fake one. Contrary, bullish traders took advantage of the lower prices and dominated the entire session. Not only the price corrected the overnight sell-off and closed the gap, but the ascending slope was so prominent that we had no chance to re-enter on a pullback and Dax grew continuously in a clear bullish direction. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax feels a positive sentiment and the price opened with a big ascending gap over the weekend, at 12 835. The first morning impulses almost retested the resistance level at 12 882. Thursday's VPOC is printed at 12 635 and there is a support of 12 592 in its close vicinity, giving the area the needed importance. We incline to retest at least one of these levels and then aim the resistance at 12 882. There are no macroeconomic events scheduled for the day and we'll monitor the behaviour of the US Indices and the correlation of Dax to their price development.
EUREX:FDAX1!
by FTMO
Dax daily: 10 Jul 2020For yesterday, we expected bulls to attempt for higher levels. The morning session was positive in this sense, but then we saw a rapid sell-off, even below 12 494. This is where the support level functioned nicely but the momentum wasn't that strong co correct the down push. Important zones Resistance: 12 494, 12 592 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The price opened with a significant descending gap, priced at 12 418. We are now far below 12 494 which changes our lookout from the previous days. As a matter of fact, the drop signifies that bulls are not present in the market or they are not willing to push the price higher under current market circumstances. We now have to re-evaluate the directional bias, based on the signals we spot in the price action. Since Dax opened below the support level, the price can easily continue to lower levels. The zone around 12 278 is the real support area we could target.
EUREX:FDAX1!
by FTMO
Dax daily: 09 Jul 2020As we thought, the retest and breakout of 12 592 really happened. Since the open, the price took an upward momentum and broke the S/R level for a short period of time. Bears stepped in and corrected the morning push back to 12 494 and proved the significance of both zones. The session was very interesting and the false breakouts could have caused troubles to some trading styles. 12 494 remained supportive and Dax bounced back to the upside, closing almost at 12 592. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session starts with an ascending breakout and the gap being closed already. We stick to our bullish bias but it's quite possible we'll see a correction towards 12 540, which is the VPOC level of yesterday. Should Dax descend there, we'll understand this as a good entry level for buyers, targeting 12 882. Today's volatility might also be influenced by the Eurogroup meetings throughout the day.
EUREX:FDAX1!
by FTMO
Dax daily: 08 Jul 2020Yesterday's session hasn't turned out exactly according to our expectations. Although Dax descended lower to retest our Support zone at 12 592 as we predicted, the price continued lower instead of reversing to the upside. Dax very precisely respected Friday's VPOC in correlation with the Support level at 12 494 and held further sell-offs. Important zones Resistance: 12 592 Support: 12 494 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis The price opened in the very near vicinity of the S/R level at 12 494 with the initial 'fake-out'. It appeared the initial impulsive move took Dax back to the consolidation range of the past weeks, yet it is apparent that it is the range that buyers want to avoid hence retracing the initial drop. We don't have any important macroeconomic events scheduled for today, but tomorrow's Eurogroup meeting could serve as the catalyst to bring some momentum for Dax. The statistical probabilities are also silent for today hence we target the nearest resistance level at 12 595 to either be retested or broken to the upside.
EUREX:FDAX1!
by FTMO
Dax daily: 07 Jul 2020Yesterday's session started optimistically and at one moment, it looked like buyers head straight towards 12 882. But as we know, appearances are deceptive. Sellers stepped in to suppress the bullish attempts and dominated the rest of the session. Bearish traders took the price lower to retest Friday's high, yet failed to close the weekend gap. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session opened with a descending gap. At the time of writing, Dax continues in the gap direction towards 12 592, which is the nearest S/R zone. After some struggles, buyers managed to get the price out of the consolidation range of the previous weeks and we believe these attempts won't be easily halted. Chances are that 12 592 will be an important zone to support the price and a good entry point for buyers. The least we're eyeing is the return to 12 715 and then attempts to target 12 882.
EUREX:FDAX1!
by FTMO
Dax daily: 06 Jul 2020No further price growth has been witnessed on Friday. After retest of the previous High, Dax pulled back to 12 494 S/R level and consolidated there for a time being, just to respect this zone and range slowly towards 12 592. The daily volatility was low due to a bank holiday in the US. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax took a bit of a delay since Friday's prognosis and opened the week with an ascending gap. The price opened at 12 776 and is descending slowly at the time of writing. Dax is now above the consolidation range and the nearest resistance level lays at 12 882. This might the most important target for bullish traders and we'll be eying to focus our attention there as well. It is, however, very likely that Dax will first retest Friday's levels and the retest of 12 882 comes later in the week.
EUREX:FDAX1!
by FTMO
Dax daily: 03 Jul 2020We predicted yesterday that Dax was on its way to target 12 494. This analysis turned out correct and the price reached all the way to 12 592. This is also where the new fair value was formed - the balanced price with biggest volume of orders. Despite the correction of the last trading hour of the session, yesterday's session can be classified very positively for buyers. Important zones Resistance: 12 882 Support: 12 592 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMIs Today's session hypothesis Friday's session starts with an ascending gap and it looks like the continuation to the upside is likely. We have enough space ahead of us without consolidation and we'd like to see market participants taking advantage of the price momentum. After breaking above 12 494, Dax gave us a clear signal to continue to higher levels. Another resistance in sight is up at 12 882.
EUREX:FDAX1!
by FTMO
Dax daily: 02 Jul 2020Yesterday's session started with the gap closure but then buyers were short of breath. Following European PMI reports, Dax sold-off below 12 151. The price reversed back as it seems there is no volume of orders on lower levels and the area around 12 151 serves as the significant S/R boundary of the current range. Dax closed the day at break-even. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 14:30 CEST - US NFP, Unemployment Rate, Wages Today's session hypothesis Today's session started with a faster tempo, dominated by bullish traders who head up to retest yesterday's high. After yesterday's bounce off 12 151 and today's morning momentum, it seems buyers might find their strength and momentum and attempt to get away from the consolidation range, heading towards 12 494 which is now the area of our focus. Be careful as we have the NFP news release from the US as the Independence day is celebrated tomorrow and the release shifted to Thursday this time. Volatility expected.
EUREX:FDAX1!
by FTMO
Dax daily: 01 Jul 2020Tuesday's session was considerably slower to what we are used to. Once the session opened, Dax took a direction to break the previous day high, as suggested by the Statistical application. The day was closed in the black numbers but the volatility was really low. Dax remains in the consolidation range where the odds are still neutral. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMIs 20:00 CEST - FOMC Meeting Minutes Today's session hypothesis The month of July opens with a descending gap and we expect the closure, also for the reasons that Dax is still in the consolidation range and the trading activity is mostly sideways. We don't have a clear directional bias and our key S/R zones remain unchanged. Keep an eye on the Eurozone PMI reports in the morning session and the FOMC later in the US session. There is no clear scenario as of now, and we're awaiting what markets offer.
EUREX:FDAX1!
by FTMO
Dax daily: 30 Jun 2020The week started with a price correction and Dax reached 12 151 as we anticipated. Take a look at how nicely this zone functioned. This was the level where buyers and sellers battled over the dominance of further price development. Bulls won this call and took Dax back to the consolidation range. Again. The price is now in a balanced area where it is understood as fairly valued. The session was closed in the black numbers and at its daily high. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session could be optimistic for buyers. As per the Statistical application, there is an increased probability of breaking yesterday's high, which, unfortunately, is relatively very near so it doesn't offer good RR. The consolidation range is quite wide and it's not yet fully clear where the price might head. The resistance at 12 494 is relatively far away but if we had to favour one side of the story, we have a bullish bias in the mid to long-term horizon.
EUREX:FDAX1!
by FTMO
Dax daily: 29 Jun 2020On Friday, we anticipated that Dax will remain in its consolidation range above 12 151, however, sellers found enough strength to break below this zone, keeping the price suppressed. Not only the session was closed at its daily low but the significant volume of orders moved lower as well and this signifies the sellers' dominance. Important zones Resistance: 12 151 Support: 11 829 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Monday's session started with a descending gap, yet the bearish sentiment doesn't fully control the initial trading hour. The price is confidently heading towards the weekend gap closure at the time of writing. For today, we have two important zones marked nearby - 12 151 as the resistance and 11 829 as the support. It is quite possible that we'll see some correction of Friday's drop before bears step in again to target 11 829. Have a good trading week!
EUREX:FDAX1!
by FTMO
Dax daily: 26 Jun 2020Yesterday's morning session was up and down around 12 151 level but eventually, buyers took dominance and Dax is now back in the same consolidation range of the past week. The price closed at its daily high and this signifies a lost battle of bears. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Today's session started near yesterday's close. Nothing provides hints about a clear dominance of either buyers or sellers when the price is midway through the consolidation range. We fight the price at the long-term fair values, although we'd love to see any clear directional move to either side. The current situation doesn't provide reasonable trading hints nor statistical probabilities. We anticipate the session to remain in the range between 12 151 and 12 494.
EUREX:FDAX1!
by FTMO
Dax daily: 24 Jun 2020As we predicted yesterday, Dax made its way outside of the consolidation range when it broke out of the resistance at 12 494. Just as we wrote, this breakout was a clear signal to retest another S/R level in the row and that is exactly what happened. Dax continued to hit the resistance at 12 595 where the price bounced back down and returned to the range of the past week. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Yesterday's price action gave us a signal that there is a mood in the markets and Dax has tendencies to continue higher. Considering that yesterday's breakout led to a retest of another S/R zone, we can understand this as the confirmation of the sentiment continuation probability. The major US indices futures also play in our favour as they gain in the morning trading hours and the correlation with Dax is often quite likely.
EUREX:FDAX1!
by FTMO
Dax daily: 23 Jun 2020Dax gave us a fake signal yesterday when it faked-out below the 12 151 S/R zone. The price very quickly returned to the consolidation range of the past week, levelled between 12 151 and 12 494. The daily range was relatively standard and we haven't even seen much volatility. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases 09:15 - 10:00 CEST - Eurozone PMI reports Today's session hypothesis Considering the fact Dax hasn't moved away from its consolidation range lasting one week already, we have no reasons changing the outlook. The Statistical Application also doesn't generate any probabilities in these situations and Dax awaits any decisive catalyst that will propel the price development. This could be today's PMI reports from the Eurozone or volatility in the main US Indices. These appear to be on the crossroad between the artificial positivism of re-opening the US economy, as created by Trump's administration, and a fear of the upcoming second wave of the pandemic. We now need to monitor the price action but mainly the breakout from the current consolidation.
EUREX:FDAX1!
by FTMO
Dax daily: 22 Jun 2020The last session of the past week turned out well for sellers. They managed to get down to a support level at 12 151 where we saw a slight correction before Dax broke to the downside and closed the week lower at 12 112. Important zones Resistance: 12 151 Support: 11 829 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis After a long time, today's session opened without a weekend gap. Dax hasn't moved anywhere yet to determine the initial directional push. Following Friday's session outcome, we slightly favour bears now. Their target could now be the previous fair value from 15 Jun, laying at 11 829. Our upper S/R zone will certainly be an interesting one as it could be a decisive factor between buyers and sellers. Should the price return back above, Dax would trade in the same consolidation range where it was last week.
EUREX:FDAX1!
by FTMO