DAX breaking out and upward....

Chris L
Category:  Trade Ideas
DAX
The German index continues to impress, breaking above the €12,200 level. By doing so, looks as if we are ready to continue to go much higher. With this in mind, I am a buyer of the DAX going forward.

Buying DAX at current levels
stop loss at €12,100
take profit at €12,400

Minor support at €12,100.

GBP/JPY
The British pound fell against the Japanese yen during the session on Wednesday as Article 50 was triggered. I believe this is a general rolling over until we get to the 50% Fibonacci retracement level.

Selling GBP/JPY at 137.65
take profit at 136.80
stop loss at 138.10

50% Fibonacci retracement at 136.75

ASX 200
The Australian index rose again during the Wednesday session, touching the 5900 region. It looks as if the market is going to continue to start going higher, as we have seen so much in the way of bullish pressure. I am a buyer at current levels, and willing to go long for a larger move.

Buying ASX 200 at 5865
stop loss at 5790
take profit at 6000

Psychological barrier at 6000


 
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