GER30 Short-Term Analysis: Possible Rising Wedge Pattern – 04 July 2022
FXCM's DAX CFD, GER30, daily chart continues to trade between the lower blue and red bands in its bearish area. The longer it maintains in this zone, the greater the chance of further declines.
Its hourly chart shows a potential rising wedge (converging turquoise lines). This pattern is of the bearish continuation family and, if it completes, suggests another leg down. The trend-following EMAs and the momentum oscillator underneath have crossed bearishly (black ellipses). If the EMAs develop angle and separation to the downside, and the oscillator heads toward the 20 level, the downside pressure will be mounting.
The Fourth of July celebration in the USA may affect market liquidity.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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