After 3 weeks of heavy selling, we found some support but the bounce is not convincing. In the DAX we expected to see 10,000 to load up on shorts again which hasn't happened yet. Monday was a low momentum day without any movement.
The area between 10,000 and 9,350 is a no trade zone and markets clearly haven't made up their minds. In such times, it's best to wait for a clear market direction and not get lost in fishing for a few points.
Yesterday's call of the AUDUSD had to be canceled due to low momentum, although the trade would have been a winner. Avoid situations where market participants are not clear what to do - you likely just end up in a whip-saw move.
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