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UnknownUnicorn890690

GER.IDX/EUR 4H Chart: Bounces off support cluster

Long
GERMAN STOCK INDEX (DAX) (TVC:DEU40)  
UnknownUnicorn890690  
TVC:DEU40   GERMAN STOCK INDEX (DAX)
Trend Analysis Chart Patterns Technical Indicators GER30 CFD germany30 germanindex EUR DEU30 deutschebank
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trendanalysis chartpattern indicator ger30 germany30 germanindex eur deu30 deutschebank
The DEU.IDX/EUR pair has been trading in a junior ascending channel pattern since June. The pair bounced off the bottom border of the channel pattern at 11616.2 on June 3.
The German 30 index made a pullback south from a resistance level at 12571.5 during yesterday's trading session.
Currently, the pair is testing a support cluster formed by the 50– and 200-hour SMAs at 12402.4.
If the cluster holds, the GER/IDX/EUR pair will continue its movement in the junior ascending channel pattern during the following trading sessions.
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