Dax daily: 01 Jul 2020

Tuesday's session was considerably slower to what we are used to. Once the session opened, Dax took a direction to break the previous day high, as suggested by the Statistical application. The day was closed in the black numbers but the volatility was really low. Dax remains in the consolidation range where the odds are still neutral.

Important zones

  • Resistance: 12 494
  • Support: 12 151

Statistics for today

Macroeconomic releases

  • 09:15 - 10:00 CEST - Eurozone PMIs
  • 20:00 CEST - FOMC Meeting Minutes

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Today's session hypothesis

The month of July opens with a descending gap and we expect the closure, also for the reasons that Dax is still in the consolidation range and the trading activity is mostly sideways. We don't have a clear directional bias and our key S/R zones remain unchanged. Keep an eye on the Eurozone PMI reports in the morning session and the FOMC later in the US session. There is no clear scenario as of now, and we're awaiting what markets offer.

 

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