DAX: Waiting For Price Breakouts After Days of Consolidation
The GBP/USD bounced off nearly 1.26 and slipped toward 1.2470. Short traders were able to profit from that bearish move. As stated in our analysis from Monday, we see a crucial resistance area between 1.26 and 1.2650, whereas on the downside, we expect a current support to come in at 1.24.
The DAX has not been one of our favorite trading instruments lately, since the index consolidated between 14250 and 13900. However, one thing is certain: A price breakout will come, probably very soon. We will focus on a price breakout above 14200 or a downside break below 13800.
Our trading idea for today 25/5/22:
DAX® (GER30)
Long @ 14060
Short @ 13990
We wish you good trades!
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