Good morning traders, it’s Tuesday the 14th of July and time for today’s 14-07-2020 German DAX 30 analysis. It seems the DAX failed again under 13k and finished below Friday’s close. The DAX is currently in a large wedge formation with the 13k zone the resistance barrier.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 hit a session high of 12870 and a session low of 12527 giving us a range of 343 points compared to the average daily range of 283. At the close of play last session, the market closed at 12552 which was 651 points above the 200EMA and 541 points above the 50EMA.
DAX 30 Outlook
The DAX is currently Bullish.
The DAX30 index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 12390, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 12870. I will again 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.
DAX Index Key Levels
As for the key levels to watch today, watch out for the previous session Point of Control (POC) at 12738 and the previous session Volume Weighted Average Price (VWAP) at 12739. The value area high (VAH) is currently 12799 and the value area low (VAL) is currently 12717.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 62 |
| Stochastic | K: 63 and D: 69 |
| MACD OSMA | -18 |
| Point of Control (POC) | 12738 |
| Value Area High (VAH) | 12799 |
| Value Area Low (VAL) | 12717 |
| The DAX Pivot | 12650 |
| The DAX R2 | 12992 |
| The DAX S2 | 12307 |
| Daily 5 EMA | 12582 |
| Daily 8 EMA | 12559 |
| Daily 50 EMA | 12011 |
| Daily 200 EMA | 11901 |
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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Trading Update
As for my index trading; during the last trading session I took a total of 6 trades (3 DAX trades and 3 FTSE trades). Breaking down my DAX trades, 2 were from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. Breaking down my FTSE trades, 1 was from the FTSE trading strategy (Using the DAX DTI) and 2 were from the regular morning FTSE signal. Overall, I hit 0 winners, 5 losers, and 1 break-even trade. This gave me a total profit of -5% 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.
| DAX DTI | DAX DAILY | FTSE DTI | FTSE DAILY | |
| Trades | 2 | 1 | 1 | 2 |
| Win | 0 | 0 | 0 | 0 |
| Loss | 2 | 0 | 1 | 2 |
| B/e | 0 | 1 | 0 | 0 |
| Closed Early | 0 | 0 | 0 | 0 |
| Profit | -2% | 0 | -1% | -2% |
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