Good morning traders, it’s Thursday the 2nd of July and time for today’s 02-07-2020 DAX 30 analysis. After the technical issues experienced on the exchange and trading losses (which recovered), the Dax is expected to win again today. It’s time to kick the fraudulent Wirecard criminals out of the DAX before the scheduled September review, don’t you think? Wirecard had admitted that the annual balance sheet lacked 1.9 billion euros and that the money probably did not exist. The company filed for bankruptcy a week ago. This Thursday, at the request of the Greens, the Bundestag will deal with the Wirecard scandal in a current hour.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 touch a session high of 12391 and a session low of 12069 giving us a range of 322 points compared to the average daily range of 331. At the close of play last session, the market closed at 12297 which was 456 points above the 200EMA and 515 points above the 50EMA.
What Is The DAX Doing Today?
The DAX is currently Bullish.
The DAX Index index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 12069, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 12398. I will again be looking to use the DAX trading strategy to provide some useful setups today.
The focus will be on the US job market report because of the celebrations around Independence Day on Saturday, July 4th (not something I celebrate personally), but the report should be published today. After the US economy had surprisingly rebuilt jobs in May, experts expect a further recovery.
Important DAX 30 Levels
As for the key levels to watch today, watch out for the previous session Point of Control (POC) at 12281 and the previous session Volume Weighted Average Price (VWAP) at 12245. The value area high (VAH) is currently 12336 and the value area low (VAL) is currently 12226.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 59 |
| Stochastic | K: 68 and D: 62 |
| MACD OSMA | -45 |
| Point of Control (POC) | 12281 |
| Value Area High (VAH) | 12336 |
| Value Area Low (VAL) | 12226 |
| The DAX Pivot | 12253 |
| The DAX R2 | 12574 |
| The DAX S2 | 11931 |
| Daily 5 EMA | 12314 |
| Daily 8 EMA | 12294 |
| Daily 50 EMA | 11782 |
| Daily 200 EMA | 11841 |
Economic Calendar
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart. Here are the most important announcements for today
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As for my index trading; during the last trading session I took a total of 3 trades (1 DAX trade and 2 FTSE trades). Breaking down my DAX trade, 1 was from the DAX trading strategy (DTI) and 0 were from the regular morning DAX signal. Breaking down my FTSE trades, 2 were from the DAX trading strategy (DTI) and 0 were from the regular morning DAX signal. Overall, I hit 2 winners, 1 loser, and 0 break-even trades. This gave me a total profit of 7% for the day.
To keep a track of the trading results, you can read the dax trading spreadsheet. In order to get access to the signals and to the strategy, you will need to be a member of the site. Find out more about membership.
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TheDaxTrader.co.uk provides top quality DAX Analysis articles every day cover various topics of technical analysis from technical indicators to naked price action. We study market geometry and share our outlooks. If you want to learn more about how we trade, you can become a member today and get access to our DAX trading strategy. We trade the strategy every day and this is where we generate our DAX signals. So come and learn the strategy for yourself.
Perhaps you want to learn how to become a signal provider for yourself? If so, learn about how to send trading signals from Metatrader 4 to Telegram. We have produced an excellent piece of software will help you do exactly that. To learn more about the DAX, visit the Wikipedia page, you will find we are mentioned there.
