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27.06.202317:42 Forex Analysis & Reviews: Technical analysis on DAX for June 27th, 2023.

Exchange Rates 27.06.2023 analysis

Blue lines- support trend lines

Yellow rectangle- major support

Dax index is trading around 15,860. The last 3 daily candlesticks have long lower tails suggesting that buyers step in when price approaches 15,700. Although price has broken both upward sloping support trend lines, these three candlesticks suggest that a bounce higher is very possible. Possible bounce targets are these broken support trend lines. We could see a back test from below. So our first bounce target is at 15,950 and the second target at 16,080. Short-term support at 15,700 if broken will provide a bearish sign, implying more downside should be expected. Medium-term support remains key at 14,600

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Alexandros Yfantis,
Analytical expert of InstaSpot
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