Category: 2015

DaxTrader taking a break for a few days and hopefully going to resist the urge to trade through the volatility on Wednesday.

We have barely held the 10650 level and technically this is providing me with an almost perfect risk:reward ratio for a long with stop under 10650 (maybe closer to 10600).

The relative strength analysis is a type of technical report that can be used by forex brokers and investors to make the best course of action in forex trading.

Yesterday was a significant day across many markets, but particularly the Dax because we have taken out major support and given the first indication that a move towards 11k may well be on the cards. I have changed my bias from bullish to neutral and I will unlikely be trading anything today.

Reviewing the major stories, the Greek economy states the country are near to an agreement with lenders, despite the difficulties. Greece will likely remain part of the Eurozone. But yesterday we saw nearly all of the gains from Monday wiped out and bring us back to square one. So after an excellent Monday yesterday was… disappointing.

Plenty of German press reports today suggested that Greece has amended its reforms list and are expected to present it Eurozone meeting on Wednesday. It was also reported that Tsipras has made changes to his team with Varoufakis losing a close ally, suggesting a clearly positive move for Eurozone negotiations, pleasing the Germans, and the Dax.

And there it is, the Dax is on its way back up past 12k and it now seems fairly likely that we can build higher from here. The positions we entered from Friday and Thursday are looking like they will hit the targets and life is good again.

Another bearish candle yesterday and we are trapped, once again inside the large trading range from the end of March. 11500 is the trend defining level at the moment, a break below this could signal a drop to 11k but I expect to see a lot of support.

Hello Traders! It looks likely that we are going to retest the lows of late either make it a triple bottom and build higher or break through and continue the correction. 11600 is the key level to watch and I am currently long...

Whilst we are still waiting for the major problem to happen, the tensions between Germany and Greece have intensified once again and Grexit fears are moving up another level now. It seems that every due payment to the lenders is littered with uncertainty and the next major one to watch is the 12th May when it needs to find a chunk of cash to pay IMF. More and more hurdles come after this and a solution is not quite ready to be released and the longer it takes, the more likely it looks like things will go badly.