Good morning traders, it’s Friday the 10th of July and time for today’s 10-076-2020 German DAX 30 analysis. The fear of a setback in the recovery of the global economy from the effects of coronavirus is affecting the Dax. Strong day yesterday for me on the signal/strategy front, especially with FTSE. See below for more details.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 reach a session high of 12701 and a session low of 12436 giving us a range of 265 points compared to the average daily range of 312. At the close of play last session, the market closed at 12558 which was 673 points above the 200EMA and 603 points above the 50EMA.
Where Is The DAX 30 Heading?
The DAX is currently Bearish.
The DAX30 Index index is currently showing a progressive series of lower lows and lower highs. The trend defining level is currently 12701, so the market remains bearish below that level. In order for the market to remain bearish, we need to take out 12390. I will be looking to use the DAX trading strategy to provide some useful setups today.. . We have a classical situation on the daily chart whereby the 5EMA is above the 8EMA, the 8EMA is also above the 50EMA and finally the 50EMA is above the 200EMA. That’s a very bullish market, the first sign of a turn could be when the 5EMA breaks below the 8EMA.
Important DAX Levels
Moving on to the key levels to watch today, watch out for the previous session Point of Control (POC) at 12641 and the previous session Volume Weighted Average Price (VWAP) at 12581. The value area high (VAH) is currently 12694 and the value area low (VAL) is currently 12537.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 53 |
| Stochastic | K: 57 and D: 66 |
| MACD OSMA | -22 |
| Point of Control (POC) | 12641 |
| Value Area High (VAH) | 12694 |
| Value Area Low (VAL) | 12537 |
| The DAX Pivot | 12565 |
| The DAX R2 | 12829 |
| The DAX S2 | 12300 |
| Daily 5 EMA | 12519 |
| Daily 8 EMA | 12500 |
| Daily 50 EMA | 11955 |
| Daily 200 EMA | 11885 |
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 5 trades (3 DAX trades and 2 FTSE trades). Breaking down my DAX trades, 1 was from the DAX trading strategy (DTI) and 2 were from the regular morning DAX signal. Breaking down my FTSE trades, 1 was from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Overall, I hit 3 winners, 1 loser, and 1 break-even trade. This gave me a total profit of 9% 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 want to help you learn to trade the DAX better. 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.
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