Temporary respite as signals point to bounce for the Dax
Bearish signals in Q2 and for this week have been confirmed, and investors were selling futures on Monday for a loss of over 250 points.
Signals across all time frames are oversold, so bounces have to be expected. Gains into last night’s close have improved sentiment and although this is likely to be temporary, for Tuesday signals are pointing cautiously higher.
Management and risk description
Allow room to buy a reactionary dip and raise stop to entry if the first target is met.
Entry: Market and 9405.0.
Stop: 9330.0, yesterday's close.
Target: 9580.5, yesterday's high and 9708.5, Friday's top.
Time horizon: Today only.
Charts: CQG. Create your own charts with SaxoTrader; click here to learn more.
For more on forex, click here.
Non-independent investment research disclaimer applies. Read more