Dax daily: 30 Mar 2020

As much as we saw the recover enthusiasm during the weekdays last week, Friday proved otherwise and the price action was predominantly bearish. Except for one correction, Dax was heading south the entire trading session to reach 9 525. This sort of situation usually brings the gap in the same direction, yet we opened the week positively.

Important zones

  • Resistance: 10 270
  • Support: 9 469

Statistics for today

Macroeconomic releases

  • NIL

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

Today's session hypothesis

Daw opens with an ascending gap and we're seeing the reaction activity right from the beginning of the session. The price is pulling back to Friday's VPOC and a continuous descend towards the fair value of 9 627 is currently the likely scenario. Should this scenario turned valid, we'll need to wait and see further price development around that level. Just as for the past couple of days, our S/R zones remain unchanged.

 

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