HomeContributorsTechnical AnalysisGER 30 Holds Near New High

GER 30 Holds Near New High

The Dax 30 hits a record high supported by the ECB’s accommodative monetary policy.

The index has bounced off the 20-day moving average, an indication that the bulls are still willing to commit more chips.

The latest consolidation on the hourly chart has found solid support above 15500. A new high above 15720 and a bullish MA cross could attract more trend followers with the psychological tag of 16000 as a target.

As the RSI drops back to the neutrality area, bids may be lurking around 15560.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading

Forex Algorithmic Trading

Myths of Fear and Greed in FX

Thinking in Probabilities

Defining A Great Trader