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Germany 30 (DAX) Trading Analysis

Posted on Aug 5th, 2018

by colibritrader

Germany 30 (DAX) Trading Analysis

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Dear followers,

My last trading analysis was on AUDUSD. It went up as I was expecting to a minor zone of resistance and then continued its downfall.

On Friday AUDUSD reversed direction and now it is trading in a range.

It will be very difficult to take a direction from here. The major trend is still bearish, but considering the low volatility during the summer months, I will be surprised to see a major directional move.

Germany 30 (DAX) Trading Analysis

Today, I am looking at a potential continuation of the uptrend of DAX.

The index fell off from the heights at 12,900 to find a minor support at 12,500.

Last Friday’s price action setup was an inside bar (for more on inside bars, visit this article HERE)

This clearly indicates that the market participants’ mood is turning bullish again.

I would ideally want to see price forming a 4H confirmation bullish pattern before taking any further action.

The next two targets for the upside are 12,900 and 13,150 respectively.

I will be closely following this index.

Happy Sunday,

Colibri Trader

p.s.

Check out my recent article on Market Geometry if you are looking for a link between price and time in trading

or check out my professional trading course HERE

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