08, September 2016

DAX (a 4-hour chart)

General overview

DAX index was neutral on Wednesday as traders are in wait-and-see mode ahead of the ECB meeting on Thursday.

Current situation

The index showed neutral trades on Wednesday. The price remained near the recent high at 10700. The 50, 100 and 200 Day EMAs maintain bullish slope. The 50-EMA is crossing the 100-EMA downwards. The resistance is seen at 10900, the support lies at 10700.

MACD remained at the same level which confirms the strength of buyers. RSI is close to the overbought area.

Trading recommendations

We expect markets to stay fairly neutral ahead of the ECB meeting. The price will remain at 10700.