• FxWirePro: dax30 trades flat, market eyes FED monetary policy

    Source: FxWire Pro - Technicals / 19 Mar 2018 02:09:49   Eastern Standard Time

    • DAX index was trading flat on Friday and closed at 12397 0.07% higher. US markets was trading mixed with Dow jones showing a minor jump and closed at 24873 (0.29% higher) and S&P500 was trading flat at 2752 (0.17% higher). Overall boarder market was flat and market eyes US fed monetary policy meeting on Wednesday. S&P500 futures is trading slightly lower and is at 2744 0.23% lower and traders eyes. Asian stock indices especially Nikkei is trading weak on strong yen.
       
    • DAX index has formed a minor top around 12605 and started to decline from that level. The index should close above 200- day MA at 12723 for further bullishness.       
                     
    • The minor bullishness can be seen only if it closes above 12337 (20- day MA) and any close above will take the index to next level till 12500/12605. It should break above 12715 for further bullishness.
       
    • On the lower side, near term major support is around 11800 and any close below will drag the index till 11400/11000.The minor support is around 12000.

    It is good to buy on dips around 120100-150 with SL around 11975 for the TP of 12600/12715.