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.

Free Trading Guides
Oil - US Crude
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 @vtchakarova: British PM Johnson says won't negotiate further Brexit delay with EU. The EU also made it very clear (see Juncker’s recent…
  • How will the Trump impeachment process affect #forex and US stocks? Find out from Rupert Osborne, @IG_US, only on Trading Global Markets #podcast. Missed the episode? Read up here: https://t.co/1Bgo0Fl5CV https://t.co/BRNvqHVjYY
  • RT @bbclaurak: I'm told that's the advice from Cabinet Secretary - legal default is still leaving at end of this month, because they can't…
  • RT @bbclaurak: No 10 claims chances of no deal go up if Letwin passes - 'the govt will step up no deal preparations immediately as the risk…
  • RT @NSoames: I shall vote against The Letwin amendment and for the Deal
  • RT @Robert___Harris: On the eve of tomorrow’s rushed Commons vote I keep thinking of the journalist Phillip Knightley’s memo to the executi…
  • The $AUD has wilted as markets price in further rate cuts even as the OCR hovers at just 1%. Those cuts may come, but labor market strength may have to wane first. Get your market update from @DavidCottleFX here: https://t.co/h1Uvm8ogXh https://t.co/M1IP0jqh41
  • The inside bar pattern occurs regularly within the financial markets. Incorporating the inside bar strategy within a trading system can enhance a trader’s market analysis technique. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/ZCT4pwc6nv
  • Greed has proven to be a hindrance more than assistance for traders. How does greed impact your trading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/C4vrTm69sE
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/WkwZK6wtzy
DAX Price Outlook: Dax Eyes a Multi Months High as Rally Continues

DAX Price Outlook: Dax Eyes a Multi Months High as Rally Continues

2019-07-04 15:01:00
Mahmoud Alkudsi, Market Analyst

DAX Price Forecast

  • DAX Charts and Analysis
  • DAX price action.

See our free trading guide to help build confidence when you trade on EUR , USD and other main currencies Download for free our latest Q3 trading guides

DAX – Trading Higher

At the start of this week Dax opened with a runway gap breaking above the May 3 high at 12,465. Yesterday, the price printed its highest level in nearly 11 months at 12,662.

Alongside, the Relative Strength Index (RSI) yesterday tested the overbought territory, however; the oscillator has dropped below 70 today.

Just getting started? See our Beginners’ Guide for FX traders

DAX DAILY PRICE CHART (Aril 30, 2017 – JULY 4, 2019) Zoomed out

DAX price daily chart 04-07-19 Zoomed Out

DAX DAILY PRICE CHART (April 1 – JULY 4, 2019) Zoomed IN

DAX price daily chart 04-07-19 Zoomed in

Looking at the daily chart we notice Dax closed on Tuesday above 12,527 and is currently eyeing 12,740. Further close above this level could push the price towards 12,840, however; the weekly resistance at 12,799 would be worth monitoring.

In turn, a close below 12,527 may send the price towards 12,282, although; the weekly support levels marked on the chart should be considered.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

DAX Four-HOUR PRICE CHART (June 18 – July 4, 2019)

DAX price Four-hour chart 04-07-19

Looking at the four-hour chart, we notice on June 27 Dax started an uptrend creating higher highs with higher lows. The price corrected lower on Tuesday creating a lower high at 12,561, then resumed its rally on the following day however, with less impulse.

Therefore, a break below the July 1 low at 12,471 could see the price even lower towards 12,282, nonetheless; the weekly support zones highlighted on the chart should be watched along the way.

On the other hand, a break above 12,706 may cause a rally towards 12,840, although; the weekly resistance levels underlined on the chart need to be kept in focus.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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


News & Analysis at your fingertips.