Next week in front of us, new trades waiting for realization.
As I said before, my market analysis are based on weekly intervals. I am focusing on my own regular market overview.
For me it’s important to steadily analyze the markets and to create some possible scenarios.
From my point of view the upcoming week looks as follows.
First, let’s take a look at my favourite one, which is DAX.
I my oppinion, DAX would try to test the 12 750 resistance zone and try to fill the gap (the big red candle). And retest the rising trend-line from the bottom. After that, there is possibility for rebound, which means an opportunity for short entry.
If DAX breaks the trend-line above, the market could reach the 13 000 points level.
EUR/USD still continues downwards, so there’s chance to touch the 1.15 level. But before that, the market may test the 1.161 resistance. That could be another possibility to open a short trade.
Gold is also looking for a decline. The same opportunity like the markes before.
Gold may be testing the 1218-1220 level, before it continues downwards. And if it does, the 1204-1205, 1200 and 1191-1194 price levels would be the support obstacles.
In conclusion, I want to say that my analysis are not trying to predict the markets exactly. In my opinion, it’s impossible to predict the future evolution of the markets.
These analysis serves me as a crutch, which helps me to decide better while daytrading.