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Short

DAX30: Intraday Trade idea

FX:GER30   DAX index of German listed shares
275 0 5
Major resistance – 9735 (200 HMA )

Major intraday support -9530 (Hourly Kijun-Sen)

The index has jumped till 9642 yesterday and started to decline from that level. It is currently trading around 9575.

The intraday trend is weak as long as resistance 9760 holds. Any indicative break above 9760 will take the pair till 9835 (55 4H MA)/9895 ( 61.8% retracement of 10348 and 9161)/10027 (161.8% retracement of 6718 and 9214).

On the lower side , major intraday support is around 9530 (Hourly Kijun-Sen) and any break below targets 9425/9375/9270.

It is good to sell on rallies around 9620-30 with SL around 9760 for the TP of 9375/9270
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