FDAX
In the German main index, we can observe an intact uptrend with a correction zone between 10133 and 9791 points. The last movement started at approx. 9850 points, but this was interrupted around the last point two at 10150 points. It seems as though there was a lack of buyers there. But the next attempt is able to start at any time, as long as the green correction zone remains.
Dow Jones:
In the short term, the leading US index is in a valid uptrend and is still in the movement here. The current correction zone runs between 17526 points and 17333 points on the lower side. The trend has been able to continue each time, but the currently small correction is hanging in the air, and situations such as these are normally not healthy. In this case, be cautious with long trades.
EUR.GBP:
The two relevant trend sizes are pointing upwards. The bigger one is still coming out of its correction zone; the smaller one is in a movement. Therefore, it looks like the trends will be continuing.
Gold:
In this value we can see a similar situation as in the Forex pair mentioned above, but with one difference. The bigger trend is coming out of its correction zone, but is already very mature. So it is not so likely for it to continue much further – perhaps up to the last point two at $1279.8. The smaller trend has more possibility for continuing, and this is the one that should be taken for a short-term trade.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Trader asset management
BORN STAHLBERG & Partner
AgenaTrader Trading Software
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