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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here:
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.10% Oil - US Crude: -0.24% View the performance of all markets via
  • The US Dollar continues to show tones of reversal as Q3 winds down. Can buyers drive the currency through the Q4 open? Get your #currencies update from @JStanleyFX here:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.43% 🇳🇿NZD: 0.20% 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.03% 🇪🇺EUR: 0.02% 🇨🇭CHF: 0.01% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.63%, while traders in EUR/GBP are at opposite extremes with 64.46%. See the summary chart below and full details and charts on DailyFX:
  • 10 out of 11 S&P 500 sectors ended higher on Friday, with half of the companies in the green. Information technology (+1.63%), consumer discretionary (+1.44%), utilities (+1.12%) were among the best performing ones, whereas energy (-0.26%) lagged.
  • The Hang Seng Index (HSI) has likely formed a bullish “AB=CD” pattern, with the “D” point found at around 23,080. A rebound from the “D” point may lead to more gains with an eye at 23,760 and then 24,200.
  • Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.33%) Nasdaq 100 (+0.30%) [delayed] -BBG
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • #2020election polls continue to show Democratic nominee Joe Biden maintaining a strong lead #Trump Supreme Court nomination may throw a wrench into bipartisan stimulus talks #AUDUSD is trading at former resistance-turned-support. What happens if it breaks?
DAX 30: To Bounce Back on a Strong NFP?

DAX 30: To Bounce Back on a Strong NFP?

2015-12-04 11:52:00
Alejandro Zambrano, Market Analyst

Talking Points

  • Yesterday’s DAX decline was justified, but the overall trend remains bullish above the November low and a good NFP reading might trigger a bounce
  • A soft NFP outcome may trigger a break to the November low and with this further losses for the DAX
  • A Bloomberg News Survey projects the U.S. NFP to decline to 200k from 271k

Yesterday’s big selloff slowed down as it approached its November low at 10,492. I expect the DAX to stage a rebound from current levels as long as this level holds. It might take a few days to clear out the bearish momentum, or it can go very quickly. It all depends on today’s U.S. NFP outcome. A Bloomberg News Survey projects a gain of 200k. This uncertainty will make it a challenging-day for DAX 30 traders.

If the November low of 10,492 does not hold as support, the DAX may reach 10,270 and thereby touch levels last seen at the October ECB monetary policy meeting. At the October meeting Draghi hinted about further stimulus, something which was delivered at yesterday’s rate meeting. However, the deposit rate cut was clearly lower than the market’s expectations and the ECB decided to cap their monthly asset purchases at €60bn instead of increasing the amount.

Looking beyond the near term I remain bullish the DAX, as E.U. economic growth indicators have been picking up and are expected to pick up further in 2016. The biggest risks to this scenario is further deterioration to the U.S. manufacturing sector, and a further Chinese economic slowdown.

Short-term Levels

Traders with an appetite for high-risk will probably buy on a break to 10,814 with a target at 11,000. While bearish traders will turn bearish on break to yesterday’s low of 10,635 and aim for the November low of 10,492.

Please note that today’s trading will be strongly influenced by the outcome of the U.S. labour market report. Most economists and most traders tend the get the NFP outcome wrong. Which makes it difficult to trade it.

DAX 30

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Learn more about trading and join a London Seminar

To be added to Alejandro’s e-mail distribution list, please fill out this form

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