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.

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
Mixed
Oil - US Crude
Bullish
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
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
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
  • RT @WillZalatoris: If you’re ever in need of a caddie again let me know. I’ll be better this time. I’m always available for you, Mr. Gilmo…
  • Technical Levels for US #Dollar, $GBPUSD, $USDCAD, $AUDUSD & #Gold - (Webinar Archive) - https://t.co/QziUbMdBZL
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.25% 🇯🇵JPY: 0.22% 🇨🇭CHF: 0.20% 🇦🇺AUD: -0.03% 🇳🇿NZD: -0.05% 🇨🇦CAD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/EEHdyNbfqh
  • RT @WhiteHouseCEA: A monthly composite measure that summarizes 22 different market- and survey-based measures of long-run inflation expecta…
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 0.10% Germany 30: 0.02% Wall Street: -0.24% US 500: -0.27% FTSE 100: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sdaF6CbfqR
  • Double UST auction today...$58 billion 3s and $38 billion 10s...plus $24 billion 30s tomorrow. That and $151 billion bills this week may push yields higher. #usts #usdollar @DailyFX
  • ECB's De Cos: - PEPP's flexibility proving useful at present - Fiscal policy should be first line of defense #ECB $EUR
  • 🇨🇦 Business Outlook Survey Indicator (Q1) Actual: 2.9 Previous: 1.3 https://www.dailyfx.com/economic-calendar#2021-04-12
  • Gold’s progress blocked for now. Inflation data, US Treasury auctions on deck. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/SfE73NXvWk https://t.co/qsWdkiEFfB
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.11% Gold: -0.61% Silver: -1.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5LrVYL4vZl
DAX 30 Sets Record High as Positive Momentum Consolidates

DAX 30 Sets Record High as Positive Momentum Consolidates

Daniela Sabin Hathorn, Analyst

Key Talking Points:

  • Equity markets remain supported by economic stimulus in the US and improving vaccination rates
  • DAX 30 aiming at 15,000 despite overbought conditions intensifying
Equities Forecast
Equities Forecast
Recommended by Daniela Sabin Hathorn
Get Your Free Equities Forecast
Get My Guide

Positive sentiment is still spilling into equity markets this morning as the DAX is setting a new record high, despite increasing cases of Covid-19 in Europe. Bond yields are also on the rise again as many investors believe that the Federal Reserve will raise rates sooner than expected on improving economic data and outlook, boosted by both Fed Chairman Powell and US Secretary Yellen last week.

It seems that focus remains on the expected recovery in stocks after the health crisis is over, so no one wants to be late to the party and say they missed out on the recovery in equity markets. In addition to the rapid progress in vaccinations, the economic stimulus introduced by President Biden is supporting this optimistic view on future recovery, which is keeping European equities well supported. At this point, money seems to heal all for investors, and Biden’s promise of further stimulus for infrastructure is like music to their ears.

Advertisement

DAX 30 Levels

The German index has been soaring past resistance levels since last Thursday and is now set to target the 15,000 level, which could be attempted this week. I expect increased selling pressure at this psychological level, at which point we may see a small correction, followed by some dip buying to bring the index higher again.

The Basics of Technical Analysis

Essentially, the picture remains pretty bullish at this point despite the strong signals about the DAX 30 bullish run being overstretched and expensive. So I find it hard to see any new buyers coming into the picture above 15,000, but if we continue to see positive momentum spilling in from the US I wouldn’t be surprised if the index breaks above that level easily.

Alternatively, if selling pressure increases we may see fear about the third-wave of Covid-19 in Europe creep into European equities, so bullish momentum may be limited. If so, look for a break below 14,400 for a signal that bears are putting in a solid attempt, followed by a break below 14,140 as a signal that bears are now in control, at which point 13,600 looks like a good target.

DAX 30 Daily chart

DAX 30 Sets Record High as Positive Momentum Consolidates

Source: Refinitiv

Germany 30 Bearish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 31% 12% 16%
Weekly 32% -2% 5%
What does it mean for price action?
Get My Guide

Learn more about the stock market basics here or download our free trading guides.

--- Written by Daniela Sabin Hathorn, Market Analyst

Follow Daniela on Twitter @HathornSabin

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

DISCLOSURES