Good morning traders!
Reviewing the major stories, the Greek economy states the country are near to an agreement with lenders, despite the difficulties. Greece will likely remain part of the Eurozone. But yesterday we saw nearly all of the gains from Monday wiped out and bring us back to square one. So after an excellent Monday yesterday was… disappointing.
I am still Bullish above 11574 and will continue to buy until that levels disappears.
19 signals generated yesterday, 5 trades taken from those signals, 1 trade opened myself.
18 trades open right now (details below)
2 closed today (details below)
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Dax Support & Resistance
|34 Hour EMA||11869||-29|
|200 Day EMA||10570||-29|
The four hour chart on the FXI indicator (click for more details) looks like it is now back under control after piercing the topside. The 30 minute chart shows a buying signal and the oscillator on the daily chart is now providing a buying signal too.
The 11574 is still the key level that I am watching
We are trapped between support and resistance on the 4 hour chart, waiting for a break
We need to break the .618 fib level of 12105 to resume the move up
Short term bearish on the 5 minute chart below
There are a couple of low volume pockets on the distribution which could provide quick points if we enter them.