Dax daily: 08 Jul 2019

Welcome to the first session analysis of a new week. Friday's price action has been quite fruitful. For a major session duration, Dax was dropping towards a consolidation zone from 02 July, where we found buyers and the price closed somewhere mid-range session trading. The US NFP was released at 14:30, but besides one volatile candle, no major reaction was seen. Today, the price opens with a significant short gap.

Important zones

  • Resistance: 12 564, 12 607
  • Support: 12 391

Statistics for today

Macroeconomic releases

  • NIL

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Today's session hypothesis

Today we could see the price ascending and closing the gap at 12 564. On this level, reversal or correction is very likely. Our major target in the upcoming days is very clear and this is the retest of the unclosed gap laying at 12 391. Should the price go below 12 469, it is likely the downside momentum might accelerate. If we don't see aggressive sellers at 12 564, we might rather see a slow-down inside Friday's range.