Skip to Content
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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
DAX, Euro Stoxx 50 Outlook: Upside Potentially Capped

DAX, Euro Stoxx 50 Outlook: Upside Potentially Capped

Justin McQueen,
What's on this page

DAX, Euro Stoxx 50 Price Analysis & News

  • DAX | Upside Capped
  • Euro Stoxx 50 |Tight Range Holds
  • German Constitutional Court Raises Questions over ECB QE

DAX | Upside Capped

Yesterday’s ruling by the German Constitutional Court raises questions over ECB’s QE policy going forward (full analysis) creating further uncertainty over the lack of cohesion during the current crisis. In light of yesterday’s decision, risks are for a cap in the recent upside for the DAX, which has struggled to overcome the 50% retracement at 10,900. In the short-term, we look to the 50DMA situated at 10,586 for support. Failure to hold opens the door towards 10,200.

Germany 40 Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -7% -1% -3%
Weekly 13% -1% 2%
Learn how to use Sentiment in your trading strategy
Get My Guide

DAX Price Chart: Daily Time Frame

Source: IG Charts

Euro Stoxx 50 |Tight Range Holds

Much like the DAX, the Euro Stoxx 50 has had a somewhat muted session thus far with the index trading in a relatively tight range. As we have noted previously, the Euro Stoxx is not out of the woods yet until the index shows a decisive break above topside resistance at 2990-3000. That said, for confirmation of a near-term top in the corrective rally, a closing break below the 23.6% Fibonacci retracement would be needed.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Justin McQueen
Trading Forex News: The Strategy
Get My Guide

Euro Stoxx 50 Price Chart: Daily Time Frame

Source: IG

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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