Dax daily: 12 Feb 2020

Yesterday's session was one of the slow ones. As per our predictions, Dax climbed to a higher level as buyers broke above 13 627 and stayed there. It is apparent that this level has its importance, also there was the biggest volume of orders at the same level.

Important zones

  • Resistance: NIL
  • Support: 13 627

Statistics for today

Macroeconomic releases

  • 16:00 CET - Fed Chair Powell Testifies

Can you pass our Trading Objectives to receive money for Forex trading? Try our Free Trial to get started.

Today's session hypothesis

Bulls stepped in right away this morning and Dax opened with an ascending gap, making the new all-time high. There is no resistance above so we rather incline to see a retest of the 13 627 which is also yesterday's VPOC. Should this hypothesis become true, we will need to monitor the price action very closely and determine further decision based on the bounce, breakout or stall.

Why to trade DAX on CFDs? Check out this article about the benefits and disadvantages of this topic.