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DAX30 Flat Top Ascending Triangle

Juni 05, 2018 13:17

EURUSD - 05.06.2018

Source: Admiral Markets MT5 with MT5SE Add-on

EUR/USD movement is very important for the understanding of Dax and its unhedged exporters that benefit from a strong USD. Asian Equities rose slightly today, but the Dax 30 still has a resistance to break. The flat top ascending triangle is generally a bullish pattern and only the break of 12819 or 4h close above it, should provide a bullish continuation move. From the POC zone - 12745-12775, the price could bounce towards 12819. Breakout targets 12882 and 12917. Only a strong close above will target 13018 – Weekly H4 level.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks

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