06, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

The Bonds Markets decreased in the Eurozone amid the weak unemployment data in the USA. The weak Nonfarm Payrolls report lowered traders’ expectations regarding the rate hike in the USA in June.

Current situation

The German DAX 30 index was traded above the level of 10175. The index made attempts to grow. Still, the bearish sentiment grew by the end of traders and the index broke the level down. The resistance is at 10175, the support come in at 10000.

MACD indicator is on the ground level. The histogram is below the signal line. RSI is in a neutral zone. The indicator does not show clear signals.

Trading recommendations

We may expect the fall towards 10000, the next target will be 9760.