Yesterday’s resistance at 12 064 functioned absolutely exemplary. There was even an intra-day high formed at this level and the price bounced some 170 points southward. Dax has eventually found some buyers just before the support retest at 11 861 and closed the day mid-range.
- Resistance: 12 139
- Support: 11 861, 11 790
Statistics for today
- Detailed statistics in the Statistical Application
- 14:30 CEST – USD – Non-Farm Payrolls
Today’s session hypothesis
Today’s probabilities are quite strong to close the gap and we estimate this to happen yet in the London trading session. All our zones are relatively distanced so in the end, the price doesn’t need to reach any. From the Price Action perspective, the price is rather to continue long towards 12 139 where the shift of power is likely. Beware of today’s labour market news from the United States and Canada being released at 14:30 Central European Summer Time – CEST, as these fundamental news could trigger some volatility for Dax.