Technical Analysis DE30 : 2020-08-20

IFC Markets

Master Trader
Oct 31, 2012
1,415
4
84
London (Great Britain)
www.ifcmarkets.com
Recommendation for DAX Index: Buy

Buy Stop : Above 13098.13
Stop Loss : Below 12514.45

IndicatorValueSignal
StochasticNeutral
MACDNeutral
Donchian ChannelNeutral
MA(200)Buy
FractalsBuy
Parabolic SARBuy
Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe the DE30: D1 is rising above the 200-day moving average MA(200) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 13098.13. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 12514.45. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (12514.45) without reaching the order (13098.13), we recommend cancelling the order: the market has undergone internal changes which were not taken into account

Fundamental Analysis
Germany’s economic reports were positive recently. Will the DE30 rebound continue?