DAX Flashes Weakness on H4 Time
The below is the H4 chart of the GER30. The index has been range bound for this week as per the blue rectangle. However, we note that the green 5-period EMA has crossed below its orange 10-period EMA (aqua ellipse) and that the RSI has dropped to the bearish side of 50 (green rectangle). We are now looking to see if a trend catches i.e. if the EMAs develop angle and separation to the downside. If this does happen it may be indicative that the current congestion pattern has been distributive in nature. We continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
Information on these pages contains forward-looking statements that involve 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 assets. You should do your own thorough research before making any investment decisions. FXStreet 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.