Categories: Technical analysis

Dax Wave Analysis 10 March, 2021

• Dax broke key resistance level 14200.00

• Likely to rise to resistance level 15000.00

Dax continues to rise strongly after the index broke the key resistance level 14200.00 (which stopped the two previous waves in February – 1 and (b)).

The breakout of the resistance level 14200.00 accelerated the active upward impulse wave 3 – which belongs to the intermediate impulse wave (3) from the end of January.

Given the acceleration of the active impulse wave 3 – Dax is likely to rise further toward the next resistance level 15000.00 (target for the completion of the active impulse wave 3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: DAX

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