Forecast for Q4'16 - levels for DAX Index - page 2

New comment
 

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2016.12.20 14:15

DAX Index: weekly bullish breakout (adapted from the article)

W1 price is located above Ichimoku cloud in the primary bullish area of the chart. Price broke key resistance levels to above for the good breakout to be started last week with 11,449 resistance level to be testing for the bullish breakout to be continuing.

  • "The headline German IFO business confidence index was stronger than expected at 111.0 for December from 110.4 the previous month and the strongest reading since February 2014, which boosted confidence in the economic outlook with further gains in current conditions, although the expectations component was little changed. In this context, dollar strength will provide a further boost to the Eurozone economy."
  • "Wall Street indices edged higher, which helped provide a lift to the DAX index in late trading, especially with a further move higher in German bund prices."

  • If the price breaks 11,449 resistance level on close weekly bar to above so the bullish breakout will be continuing.
  • If not so the price will be on bullish ranging within the levels.

12
New comment