FDAX:
The German stock index has taken further harsh blows since last week, which are surely due to the big expiry day. However, this decline led to the trend continuing and forming a new low at 9429.
This has resulted in a new, large correction zone between 9736 and 10374 points, meaning that we can assume this trend will still be accompanying us for a fairly long time.
In the daily chart, there is a highly interesting situation to be seen in the Dow Jones. In the visible trend, the last high is located at 18083 points; the valid correction zone runs between 17753 and 17297 points.
After the high, the price went back down to the bottom edge of the correction zone, even undercutting the point three as it did so, but without forming a closing price below it. This meant that the trend remained intact and started the next movement from there.
This, however, was broken off just before the high, and the price went back to the end of the correction zone once again and was even able to underbid this once more yesterday, but again without a closing price.
The daily candle is actually a classic reversal candle that was even confirmed in the futures today. With this, the trend is still intact and we can now expect a new movement to develop.
All currency pairs that contain the British pound should be handled with caution up until the BREXIT decision.
If the medium trend in the EUR/GBP hourly chart is also pointing upwards and is currently in the correction zone, one can speculate on a continuation of the trend, but should, however, place a very tight stop with regards to important decisions.
Adobe Systems (NASDAQ:ADBE):
Adobe Systems is a US software enterprise. The company offers software with which customers create, publish and can measure the effect of digital content. Since this is a rapidly growing market, it does not seem unusual that the price has been increasing for years now.
The last high is currently located at $100.56; the currently valid correction zone runs between $.96.42 and $71.27. The trend in the weekly chart – and therefore interesting for investors – has become quite mature, however, meaning that a larger correction is more than likely.