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Long

DAX30:Intraday Trade idea

FX:GER30   DAX Index
232 0 7
Major intraday resistance- 9586 (55 H EMA )

Major intraday support- 9420 (21 H MA)

The index has broken psychological resistance 9500 yesterday and jumped till 9590 at the time of writing. It is currently trading around 9568.

In the hourly chart the index is trading well above Tenkan-Sen (9486) and Kijun- Sen (9384).

The intraday trend is slightly bullish as long as support 9480 (Hourly Tenkan-Sen) holds.

On the higher side, any break above 9590 will take the index to immediate resistance at 9718 (High made after Brexit)/9768 (200 HMA ).

The major intraday support is around 9480 and any break below targets 9420/9385.

It is good to buy at dips around 9525-9530 with SL around 9420 for the TP of 9718/9765.

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