Market Analysis: DAX30 CFD with another test of the pre-weekly highs around 11,250?

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  • 26.01.2019
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Market Analysis - DAX30 CFD - Retests of 11,250?

As we pointed out in our technical piece for the DAX30 CFD on Monday, the breakout region around 10,970/11,000 pointed to a solid region of support against which long-engagements look interesting, from a risk-reward perspective. Heading into the weekly close, chances seem good now that the DAX30 CFD bulls will make another attempt to break back above 11,150 points.

Forex Calendar - Economic Announcements

Source: Economic Events 25 January 2019 – Admiral Markets’ Forex Calendar

Such a break higher makes a re-test of the region around 11,250/300 points heading into the weekly close or into the start of the next week likely. Nevertheless, as long as the DAX30 CFD does not break above 11,150 points, another drop, attack and break below 10,970/11,000 points remains an option, and would go hand in hand with a high likelihood of further losses in the days to come, with a drop down to 10,800 points.

DAX30 CFD Hourly Chart - MetaTrader 5 Supreme Edition

Source: Admiral Markets MT5 with MT5SE Add-on DAX30 CFD Hourly chart (between 07 January 2019 to 24 January 2019). Accessed: 24 January 2019 at 10:00 PM GMT – Please note: Past performance is not a reliable indicator of future results, or future performance – In 2014, the value of the CADJPY increased by 3.9%, in 2015, it decreased by 15.6%, in 2016 it increased by 0.1%, in 2017 it increased by 2.9%, in 2018 it increased by 10.3%, meaning that after five years, it was down by 18.95%.

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