GER 40 holding on
The Dax (part of the GER 40 index)
GER 40 holding on
The Dax (GER 40) remains choppy as the Euro zone awaits more inflation data.
- A sharp fall away from 26300 is a sign of inconsistency by short-term buyers.
- The RSI has recovered into neutral territory as sellers take profits
- The index is yet to stabilise from last week’s sell-off.
- The recent lows at 26000 and 25850 are the levels to see if sellers are looking for a way back into the market.
remains choppy as the Euro zone awaits more inflation data.
- A sharp fall away from 26300 is a sign of inconsistency by short-term buyers.
- The RSI has recovered into neutral territory as sellers take profits
- The index is yet to stabilise from last week’s sell-off.
- The recent lows at 26000 and 25850 are the levels to see if sellers are looking for a way back into the market.
EURUSD tests recent high
The Euro continues to outmaneuver the greenback as price action attempts to hit another higher high.
- The pair currently found support at the mid 1.1500 area at the beginning of this month.
- Sentiment shows that buyers are in control, as the pair moves to test the 1.1720 level.
- However, a bearish divergence on the RSI could turn things around.
- A move below 1.1600 will cause another sell off which could hit a fresh low at 1.1550.
GBPCAD continues higher
The pair looks for another fresh peak as prices look to bounce back from the recent correction.
- A close above the recent high will attract more momentum buyers, sending the pair above 1.8920.
- 1.8880 is the immediate hurdle, and the RSI’s overbought condition could prompt bulls to change sentiment.
- The recent double bottom at 1.8740 is a vital support to keep the bulls challenging for another high.
Trading the forex market requires extensive research, and that’s what we do best
