Dax daily: 18 Sep 2019

Tuesday's session started relatively calmly until we saw a volatile candle at around 9am, when Dax fell prudently just to retrace some time later and closed the gap. The price continued lower steadily and after retesting the low formed after the NFP release, Dax found some buyers who took the price back to its daily range. The close was actually near its intraday session high. Today, we open with a descending gap.

Important zones

  • Resistance:  12 420
  • Support: 12 310

Statistics for today

  • Detailed statistics in the Statistical Application
  • The statistical probability of breaking yesterday's high is 83%

Macroeconomic releases

  • 20:00 CEST - USA - Federal Funds Rate & FOMC statement.

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Today's session hypothesis

From the statistical point of view, we are viewing the long direction for price development. What plays in our favour is the high statistical probability for closing the gap, followed by yesterday's high breakout. For these reasons, our directional bias is clearly established. This day is filled with fundamental releases, the most important of all is the FOMC decision and statement later in the session. The volatility is certainly expected after the release. Buyers are likely to enter around 12 329.



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