Dax Technical Analysis 09/04/2015

Hello traders!

Today is the day we find out a little more about the prospects of Greece. Are they going to pay the IMF? Surely they will find something right? I mean, I could not imagine the fall out if they default. When you consider that their cash resources are incredibly limited and will unlikely take them past 24th April, it’s easy to fear the outlook.

Markets saw a quiet reaction to the FOMC minutes perhaps because of the conflict in the preferred timings for ‘lift-off’. I think the June expectation is still on the cards, but others are leaning towards a later date because of the USD and oil.

I have no Dax trades open, although I am still short EURUSD

Dax Support & Resistance

KEY LEVELSDifference
Daily R212179-55
Daily R112118-37
Value High12105-14
Naked VPOC120812
24hr VWAP12068-34
Daily Pivot120660
34 Hour EMA120664
Value Low12043-19
Daily S11200518
Daily S21195355
200 Day EMA1032515


Dax FXI Analysis

Daily bias: Bullish. Look to buy. Although overbought currently

4-hour bias: Beginning to level off, suggesting downside movement on the way. No signal to buy yet.

30 minute chart: In the red zone, no opportunity to buy, wait for closer to 12k or for price to settle here.

1Dax - FXI Indicator
1Dax – FXI Indicator

Dax Daily Chart Analysis

Same story, we are trapped in the box, even closer towards the top now but need a catalyst to break out. Greece announcing they have paid the IMF bill will help temporarily, until perhaps they announce they can’t pay the next one.

2Dax Daily Chart
2Dax Daily Chart

Dax Intra-day Analysis – 4 hour

We are bunching up now between support and previous highs acting as resistance and we are starting to find an interesting trading opportunity on breaking out

3Dax Intra-day Chart (4 hour)
3Dax Intra-day Chart (4 hour)

Dax Intra-day Analysis – 30 minute

We still sit underneath the weekly R1 and trading sideways. You can easily draw a triangle on this chart if you zoom out a little more and a compelling pattern is emerging.

4Dax Intra-day Chart (30 minute)
4Dax Intra-day Chart (30 minute)

Dax Intra-day Analysis – 5 minute

We broke below the previous range but this was a fake move as we are now back inside the same range again. No clear signals and no clear opportunity here.

5Dax Intra-day Chart (5 minute)
5Dax Intra-day Chart (5 minute)

Dax Volume Profile Chart

6Dax Volume Profile Chart (5 minute)
6Dax Volume Profile Chart (5 minute)