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DAX30 Technical Analysis And Trade Update

DAX30 Technical Analysis And Trade Update

Trade Summary:

Short at 12538  Bearish Cypher Harmonic Pattern

TP1: 12200 TP2: 12080 – Achieved –

Monday Asia Opening:

Stocks fell as the worldwide death toll from coronavirus topped 500,000 and US officials warned that the window to halt the pandemic’s spread across America was closing.

Some investors are concerned that a recent rally in stocks based on hopes of a strong economic rebound following the pandemic may have gone too far.

Technical Overview:

Bearish Triangle on the bigger charts.

Trade: Short  @ Trendline breakout at 11.950

The first target of the trade 11.750  – Bullish Cypher for a minor retracement.

The second target is 11.600

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.

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