Categories: Technical analysis

Dax Wave Analysis 2 March, 2021

• Dax broke daily down channel

• Likely to reach resistance level 14200.00

Dax index continues to rise inside the minor impulse wave 3 which started earlier from the support level 13660.00 (which also formed the daily Hammer at the end of February).

The index earlier broke the daily short-term down channel from the start of February – which should add to the bullish pressure on Dax in the next trading sessions.

Given the prevailing uptrend – Dax is likely to rise further toward the next resistance level 14200.00 (top of the previous impulse wave 1).

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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