DAX profitable trading

Dear traders,

What a trading day yesterday! We were able to pocket a 100 points DAX profit amidst a bull run towards 16300. Let’s see whether bulls can also take out the 16300-barrier in the near-term. The former 16000-resistance is now seen as a higher support.

Elsewhere, yesterday turned out to be a profitable trading day as both euro and pound sold off against the U.S. dollar. We will save the weekly profit.

Have a wonderful weekend everyone!

Daily Forex and DAX Signals:

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Our trading ideas for today 19/5/23:

EUR/USD

Long @ 1.0810

Short @ 1.0735

GBP/USD

Long @ 1.2440

Short @ 1.2385

DAX® (GER40)

Long @ 16240

Short @ 16140

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

Any and all liability of the author is excluded.

The EUR/USD slipped below 1.05 but stopped its fall slightly above 1.0480 before consolidating again around 1.0530. If the pair now falls again below 1.0490, we see increased chances for a bearish move back toward 1.04. As stated in yesterday’s chart analysis and with a break above 1.0610, we may see a bull run for 1.08.

The GBP/USD reversed after touching again the support area around 1.2170. After days of consolidated movements, we may now see some larger moves with a higher target at 1.24. A fall below 1.2150 however, would shift the focus back to the 1.20-threshold.

DAX: We were able to catch a bigger fish yesterday with our 100-points-gain short trade. The index fell towards 12800. If it remains below 13300, we anticipate lower targets at 12600 and 12300.