The dax/ger30 is currently sitting in a strong support area and has also formed a descending triangle. as long as the support holds, we should see dax form a bullish trend, and hopefully breaks the trendline. first target area for this trade would be around the 11900 are if it breaks the trendline and after it retests the trendline
on the daily timeframe, we can see the price has reached 61% retracement level. and price action can see the candlesticks preparing a trend reversal. aiming for 136.8 as my first TP. before thinking of going long again.
Pound sterling has been very bullish against JPY. for the month of april. although it is now at a resistance of the downwards trend line, it is currently breaking the 61% fib level on the Daily time frame. suggesting that a reversal might not be on the books just yet. If we see price breaking beyond the trend line, I will be aiming to take profit around the...
