Dax daily: 01 Aug 2019
Resistance: 12 283
Support: 12 073
Statistics for today
Detailed statistics in the Statistical Application
09:15 - 10:00 CEST - Eurozone PMIs
13:00 CEST - United Kingdom - Official Bank Rate, Statement, Votes & report. All of these could influence DAX as well.
Today's session hypothesis
Most of the time, days following the FOMC are relatively calmer. Moreover, it's a summer holiday season. We have a weaker near the current price, laying at 12 073. That level could be used by buyers. From the price action perspective, it is difficult to estimate today's direction development. Talking about the probabilities, we have 80% for breaking yesterday's high or low and then there is a statistical chance of 78% that Dax might close inside yesterday's range. Taking this into account, it is rather wise to target our trades back into range should the high/low be broken.