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themarketzone
Jun 24, 2015 2:56 PM

Is the $DAX about to explode?  

DAX index of German listed sharesFXCM

Description

Since my last analysis, the DAX broke out of the downtrend line, retraced from the 50 SMA line and today touched previous resistance zone that clearly (for now) acts as support.
Judging by CURRENT price action, If the DAX will create higher high after testing support it could mean continuation of the uptrend and the end of the correction move.

BTW, if it won't make it, the bearish scenario I mentioned near 1150 is still very relevant. A close below 1130-1140 will confirm it

Too soon to tell, but notice the zones marked in this chart

Comments
jangseohee
the daily gap at DAX got to be filled first
this may not be latest data


Ger30 is facing a little big of resistance
IvanLabrie
EURUSD is definitely correcting down some more, same as all euro pairs. I guess it can spike up there a bit more before coming down again.
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