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May Trump Meeeting and DAX Forecast Week of July 16-20

DAX Forecast and Technical Analysis Week 16-20 July


Friday was an interesting day both in political and financial aspects. May – Trump meeting caused a volatility in the markets.


  • Trump denied he criticized British prime minister after criticizing her ( CNN )
  • Both countries would not allow Iran to nuclearize
  • No matter what the Brexit plan is, he finds Theresa May successful.
  • Trade agreements between U.K and U.S will continue.
  • Stated that “he will not let the trade between the Eurozone and U.S. continue as it was before”.

It looks like his new “enemy” is the Eurozone Countries. – In other words: Germany –


We see a potential Head and Shoulder pattern forming in the bigger picture.  11.750 support is critical.

The smaller part of the picture is not positive either. DAX ended the week below EMA 50, 100 and 200 on the daily chart. The neckline of the double top has been retested. However, it failed to break and close above. 12540 support is important. Breakout of this support will trigger the bearish price action.

Break below 12540 will carry the price 12450, 12400 and 12200. The target of the formation is 12000.

The real game may start with the completion of the SHS pattern and the breakout of the 11750. It is out of our focus for a while but will keep an eye on it.

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DAX Forecast:  Forex Trading involves 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. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.


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