Yesterday was a perfect trading day for traders in the DAX since we got the big gains we have been looking for, both bears and bulls. As expected, the index accelerated its decline after the 15000-level was significantly breached to the downside and extended its losses towards 14800. We booked a 100-points gain with our short signal. We then saw a U-turn with the DAX strongly rebounding towards 15300, ending the day in positive territory. Also our long signal reached the big profit target of 100 points. We now recommend traders to save weekly and monthly profits and lower the risk per trade.
The situation was different in both currency pairs which traded in relatively small price ranges above the crucial support-levels, failing to provide greater gains.
We may see some higher volatility in the FX crosses today with the U.S. retail sales report due for release at 12:30 UTC. However, there may be less of a market reaction compared to Wednesday’s CPI report.
We wish everyone a beautiful weekend.
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