Daily Market Analysis 21.02.2022: DE30

Instrument: DE30

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if price trades above 14926.3 with take profit at 14955.7.
Bearish Preference: 
A Sell position is envisaged if price trades below price 14880.7 with take profit at 14848.2.
No major Fundamental.

If the USD is going to put in a directional move it’s likely going to need some participation from the Euro. But, after putting in a strong trend down in the second-half of January and a strong trend up in the first part of February, we find price action in somewhat of an awkward state of inertia. There may be some motive to play between the cracks but realistically there’s not much for a directional bias that can be gleamed from this sloppy price action as we are, in essence, holding near the middle of the recent range. Likewise, the EURSTOCKS will most likely do the opposite of its currency.

Analysis: SCRUM Team

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