DAX30 Trying to Break the 50 SMA - Forex News by FX Leaders
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DAX30 Trying to Break the 50 SMA

Posted Wednesday, March 13, 2019 by
Skerdian Meta • 1 min read

We posted an article about the [[DAX30]] earlier as this index was bouncing off the 100 SMA (green) on the H4 chart. We have a particular interest for this index right now since we have a long term signal live here after buying this index last evening during the decline.

The 100 SMA held its ground well yesterday and today during the Asian session despite being pierced briefly. The buyers became active at that moving average and the price has bounced from it, but it is having difficulties trying to overcome the 50 SMA (yellow) now.

This moving average has been a strong support indicator during the move higher in the previous weeks, so probabilities that it turns into resistance now are high. We closed the previous buy signal at this moving average last week, but the price continued higher for another 10 pips, so let’s hope that the buyers don’t get stuck at the 100 SMA again now.

 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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