Dax Technical Analysis 25/03/2015

Good morning Traders!

We have found ourselves back at the 12k after a brief test of 11950 this morning. Early signs are pointing to a move higher today so I am looking for buying opportunities. I had a little go this morning already and took a small win away, I will be watching for a hold of 12k, if we can’t hold then I might buy around 11950. We have created a high this morning at 12022, so if we take that out I will be interested in looking to go long from there.

This morning's quick trades
This morning’s quick trades

I still have a strong bullish bias, but I am beginning to realise that this may need to change to neutral soon, because the Greece issue is still looming and fairly soon there is going to be a big liquidity problem for them with estimates ranging from as early as 4th April for the date that they run out of money. This problem will likely cause some waves through the market and I might just sit those days out. But for now? I am buying where I can.

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Dax Support & Resistance

KEY LEVELSDifference
Daily R21217040
Daily R11207176
Value High12030118
Naked VPOC1198199
24hr VWAP1195469
34 Hour EMA1194929
Daily Pivot1193324
Value Low1190644
Daily S11183460
Daily S2116968
200 Day EMA1019949

DAX FXi Predictor Analysis

No clear opportunity to trade from the indicator right here, but if we do get down to between 11925-11950 there could be a buying opportunity. The indicator suggests that we are overbought intra-day with the oscillator over 70, so I won’t buy anything just yet.

Dax - FXI Indicator
Dax – FXI Indicator

This continues from the following article: https://www.daxtrader.co.uk/forex-indicator-predictor-review/

Dax Daily Chart Analysis

Nothing more to say than we are still trapped but have tested the top of the previous bull channel and are currently holding above it. I have noticed as well that the ichmoku cloud is beginning to widen so when we do experience a reversal, there could well be an extended period of turbulence as we consolidate for some time.

Dax Daily Chart
Dax Daily Chart

Dax Intra-day Chart Analysis (5 minute)

We are currently above the daily pivot and i would expect us to test the yesterday high at least today, perhaps even R1. If we take out yesterday’s high then we are back to a traditional bullish trend again with higher highs and higher lows in the short-term.

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

Dax Intra-day Chart Analysis (30 minute)

We found resistance at the weekly pivot point yesterday so we will attempt to take that out again today. If we fail then we may be looking to build support before trying again. A break above yesterday’s high will see us heading back towards Friday’s high and testing the underside of the regression channel.

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

Volume Profile Chart Analysis

By close of play yesterday we had already retraced around half of the gains from the day and began to rally this morning, signalling a further push to the upside. Although there will likely be some resistance above us as orders are triggered so there may be some ranging and swinging between 11975-12000

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