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DAX30 Flat Top Ascending Triangle

June 05, 2018 12:17

EURUSD - 05.06.2018

Source: Admiral Markets MT5 with MT5SE Add-on

EUR/USD movement is very important for the understanding of Dax and its unhedged exporters that benefit from a strong USD. Asian Equities rose slightly today, but the Dax 30 still has a resistance to break. The flat top ascending triangle is generally a bullish pattern and only the break of 12819 or 4h close above it, should provide a bullish continuation move. From the POC zone - 12745-12775, the price could bounce towards 12819. Breakout targets 12882 and 12917. Only a strong close above will target 13018 – Weekly H4 level.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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