Dax daily: 07 Feb 2020

In today's analysis, we kept our predictions unchanged. We didn't have any hints about the direction yesterday, and it turned out that market participants were indecisive as well. Dax was idle for the entire session, just moving sideways.

Important zones

  • Resistance: 13 627
  • Support: 13 461

Statistics for today

Macroeconomic releases

  • 14:30 CET - USA - Non-Farm Payrolls,  Wages & Unemployment Rate

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Today's session hypothesis

Thanks to a very calm price action yesterday, we don't have any new information compared to previous analysis. Our zones remain in place and today's session is likely to react to the NFP release in the US. This combined report is known to move the global assets, Dax inclusive. Seeing yesterday's close, we are slightly inclined to see a decline towards 13 461 rather than some quick longs. Yet, markets might absorb risk sentiment before the NFP release so it's advised to be cautious today.

 

 

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