Support & Resistance
| KEY LEVELS | Difference | |
| Daily R2 | 10364 | 297 |
| Daily R1 | 10181 | 214 |
| Value High | 10052 | 166 |
| Naked VPOC | 10007 | 138 |
| 34 Hour EMA | 9928 | 86 |
| 24hr VWAP | 9920 | 65 |
| Daily Pivot | 9883 | 17 |
| Value Low | 9843 | 43 |
| Daily S1 | 9700 | -66 |
| 200 Day EMA | 9499 | 6 |
| Daily S2 | 9402 | -263 |
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Dax Analysis
I will keep today short because I might not be in the office much.
Swiss National Bank believe QE is a given and in a nutshell that explains yesterday’s crazy and very lucrative price action. Congratulations to any Dax bulls and to anyone who shorted EURCHF or backed any Swiss pairs.
The 10k level has once again been hit, but we closed below it last night and today I wouldn’t be surprised if we pulled back a bit as the market settles from the chaos of yesterday. Targets for a pullback would perhaps be the daily pivot of 9886 and possibly 9843 which is the value area low from yesterday.
We are bullish right now and anyone who wants to be long, probably already is, price is expensive so there isn’t much value up here today. I would look to be buying a dip on a pullback and Friday does tend to provide reversals/corrections.
10067 (yesterday’s daily R2) was perfect resistance yesterday and above this is the previous high around 10094, beyond this we are in to new territory and the door would be open to 10250 and further.
Today I am not expecting any fireworks, perhaps a compressed day leaning more towards consolidation.
Good luck trading
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