Two Trades To Watch: EUR/USD, DAX - Wednesday, May 5

Whilst the Dax remains above its 50 EMA and the ascending trendline dating back to November, the medium term upward trend remains intact. It would take a move below 14850 the 50 EMA and 14700 the ascending trendline support for sellers to gain traction towards 14440 low March 24.  

Any recovery would need to break above 15100 the lower band of the holding pattern in place since early April. 

 

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