You are here: Home > articles > Forex > Technical Analysis – GER 30 index looking bearish in the short- and medium-term
Technical Analysis – GER 30 index looking bearish in the short- and medium-term
October 19, 2018 12:26 pmVideo
Latest News
- Trading Signals for EUR/USD for April 24-26, 2024: buy above 1.0670 (21 SMA – 3/8 Murray) April 24, 2024
- Technical Analysis – Alphabet stock is buoyant ahead of earnings April 24, 2024
- Analysis of the EUR/USD pair on April 24th. Waiting for US GDP for the first quarter April 24, 2024
- Analysis of the GBP/USD pair on April 24, 2024 April 24, 2024
- USD/JPY: Simple trading tips for novice traders on April 24th (US session) April 24, 2024
- GBP/USD: Simple trading tips for novice traders on April 24th (US session) April 24, 2024
- Technical Analysis – EURUSD stays beneath 1.0700 April 24, 2024
- EUR/USD: Simple trading tips for novice traders on April 24th (US session) April 24, 2024
- GBP/USD: trading plan for the US session on April 24th (analysis of morning deals). The pound retains hope April 24, 2024
- EUR/USD: trading plan for the US session on April 24th (analysis of morning deals). The euro continues to buy around 1.0688 April 24, 2024
- Forecast for the EUR/USD pair on April 24, 2024 April 24, 2024
- GBP/USD. April 24th. The pound felt strong on Tuesday April 24, 2024
- Overview for the GBP/USD pair on April 24th. Dave Ramsden expects inflation to slow down April 24, 2024
- Technical Analysis – EURCHF heads up after bearish spike April 24, 2024
- Overview for the EUR/USD pair on April 24th. The EU services sector has pushed the euro upwards April 24, 2024
- Video market update for April 24, 2024 April 24, 2024
- Will the BoJ disappoint once again? – Preview April 24, 2024
- Forex forecast 04/24/2024: EUR/USD, USD/CAD, Oil and Bitcoin from Sebastian Seliga April 24, 2024
- USD/JPY: trading tips for beginners for European session on April 24 April 24, 2024
- GBP/USD: trading tips for beginners for European session on April 24 April 24, 2024
The Germany 30 index has lost considerable ground after late August’s peak of 12,460.50, eventually falling to a near two-year low of 11,395.00 on October 11. It is currently trading approximately 200 points above this nadir.
The Tenkan- and Kijun-sen lines are negatively aligned, attesting to the negative short-term bias. Notice though that the former has flatlined, which could serve as a sign of weakening bearish momentum.
Support to a move lower may come around last week’s near two-year bottom at 11,395.00, with steeper losses potentially meeting additional support around the 11,000 round figure that may be of psychological importance.
On the upside, resistance might occur around the current level of the Tenkan-sen at 11,701.25; a late-March bottom roughly coincides with this point. Further up, the zone around the Kijun-sen at 11,927.50, which also encapsulates a recent bottom at 11,861.50 as well as the 12,000 handle, would be eyed for additional resistance. Higher still, the focus would turn to the region around the 50-day MA at 12,153.65.
The medium-term picture is clearly bearish: the index is in a downtrend, recording lower highs and lower lows, with trading activity taking place below the 50- and 100-day MA lines, as well as below the Ichimoku cloud.
Overall, both the short- and medium-term outlooks are looking bearish, though a signal for an easing of negative momentum in the short-term is currently at play.
Related Posts: