News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇮🇳 Inflation Rate YoY (MAY) Actual: 6.3% Expected: 5.3% Previous: 4.23% https://www.dailyfx.com/economic-calendar#2021-06-14
  • 🇮🇳 Inflation Rate YoY (MAY) Actual: 6.3% Expected: 5.3% Previous: 4.29% https://www.dailyfx.com/economic-calendar#2021-06-14
  • Heads Up:🇮🇳 Inflation Rate YoY (MAY) due at 12:00 GMT (15min) Expected: 5.3% Previous: 4.29% https://www.dailyfx.com/economic-calendar#2021-06-14
  • Please join @MBForex at 8:30 EST/12:30 GMT for your weekly scalping webinar. Register here: https://t.co/fnmiAygMWK https://t.co/Sx8njhk10O
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 75.60%, while traders in France 40 are at opposite extremes with 79.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Xa1slpNvfU
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.45% Silver: -0.76% Gold: -1.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9lqrsKrGNY
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.26% 🇦🇺AUD: 0.14% 🇪🇺EUR: 0.06% 🇯🇵JPY: -0.02% 🇨🇭CHF: -0.12% 🇬🇧GBP: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LwCC7chCWS
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/W77gA74YMA
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.41% France 40: 0.31% Germany 30: 0.24% US 500: 0.11% Wall Street: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qQEVLh2QC7
DAX Weekly Forecast: Germany's DAX Chasing Record High

DAX Weekly Forecast: Germany's DAX Chasing Record High

Justin McQueen, Analyst

DAX 30 Price Analysis & News

  • DAX Outlook: Chasing Record High Above 13,600
  • Phase 1 Deal Priced In
  • Growing Risk of a Top in the Short Term
DAX Weekly Forecast: Germany's DAX Chasing Record High

Source: Refinitiv

DAX | Germany’s DAX Chasing All-Time High

The beginning of week had largely been characterized by risk aversion, stemming from a rise in geopolitical tensions between the US and Iran. In turn, equity markets had largely been on the backfoot. However, the initial concerns were quickly forgotten as both sides refrained from escalation tensions further and thus relief rally had propelled the DAX higher, gaining over 4% from the weekly lows. Consequently, with investors piling back into equities, Germany’s DAX is now chasing its all-time peak at 13,601.

Moving Averages: 50DMA (13,232), 100DMA (12,928), 200DMA (12,512)

Phase 1 Trade Deal Expected to be Signed, However, this is Price in

As we look towards next week, with little scheduled from a Eurozone and German standpoint, other than final readings for inflation, the German DAX is likely to take its cue from the broader risk environment. As a reminder, the US and China are expected to sign the Phase 1 trade deal on January 15th. However, this has been largely priced in, therefore the impact on equity markets could be somewhat muted, unless there are concerns that the signing of the deal could be delayed.

Risk of a Top?

Amid the persistent upside across global equities, Bank of America’s Bull and Bear indicator has hit a 21-month high, consequently nearing extreme bullish sentiment. As such, they note that their indicator has provided its first sell signal since January 2018. Coincidently, this had preceded the sharp violent sell-off seen in February 2018. That said, this raises questions as to whether the DAX 30 is nearing a top in the short run.

DAX Price Chart: Daily Time Frame (Nov 2018 – Jan 2020)

DAX 30 Record High

Source: IG Charts

Trading the Dax 30: Trading Strategies and Tip

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES