Dax daily: 11 Feb 2020

As we anticipated and as the statistics suggested, Dax broke below the previous session low. Hence, the statistical probability for closing the gap and for breaking the low was successfully fulfilled. The 13 460 functioned as the strong support area and the price then closed the session in green numbers.

Important zones

  • Resistance: 13 627, 13 562
  • Support: 13 461

Statistics for today

Macroeconomic releases

  • 15:00 CET - ECB President Lagarde speaks
  • 16:00 CET - Fed Chair Powell Testifies

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Today's session hypothesis

Today's price opened with an ascending gap sized 80 points. The gap of this size has not been closed in history and this fact could favour buyers. Dax could potentially reach all the way to 13 627. Yesterday's session was a clear indication that bullish sentiment prevails. 13 460 seems a good support level serving as the base point for buyers. We're on their side for today.

 

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