dowcharting

DAX daily analyses jan 5 2017

OANDA:DE30EUR   Germany 30
234 0 12
Morning folks...

Not much change since yesterday. We made a move towards dow 20k and we had some aftermath of the euro/dollar move on the dax             causing some bearish underlying momentum. But all of that we where expecting. Today we have the FED that has gone a bit political using Trump as an excuse to ramp up ratehike to cover their years of incompetence on that level. So some selling could happen but nothing really dramatic. We remain on track within the lines of the analyses. On a technical level this means we can see the market move lower fist towards 11500/400. But we expect it to bounce around these levels and recover. When we finally break above 11600 and stay above it we can look for new highs around 11700/800. There is still a very high chance that we will form a top around that zone. But keep in mind that we need to see that top before we even think about shorting it. So for today daytraders can trade short at the start of the day but this is limited. Long on the dips is however preferred. We will do all the follow up in the tradingroom.
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