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
Please try again
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
Wall Street
More View more
Real Time News
  • What's the difference between leading and lagging indicators? Find out from here:
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here:
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here. #DailyFXGuides
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here:
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
DAX 30 Remains Soft on Caixin PMI Services, ISM on Tap

DAX 30 Remains Soft on Caixin PMI Services, ISM on Tap

Alejandro Zambrano, Market Analyst

Talking Points

  • DAX remains bearish below yesterday’s high of 10,403 on soft Caixin China PMI Services and news of North-Korea announcing the testing of a hydrogen bomb
  • U.S. ISM Non-Manufacturing and U.S. ADP are on tap today. A good ISM Non-Manufacturing report is needed in order to soften the impact of this week’s bearish news

The DAX 30 is lower by 1.28% this morning and will remain bearish as long as price trades below yesterday’s high of 10,403. The next level of support and target for bearish traders is the December 14 low of 10,122. Following a successful break to this level, the price may reach the psychological level of 10,000, however, it could be argued that its first stop would likely be at 9885 were true support to be found, hence the price may slide further than 10,000.

The price would need to breach yesterday’s high of 10,403 for the short-term trend to turn bullish. In this scenario the DAX 30 may reach 10,621.

Adding to the bearish bias this morning is news of Chinese data along with activity in North-Korea. Firstly, the Caixin China PMI Services slipped to 50.2 from 51.2, a level very close to the multi-year low of 2014, which was at 50. This in concert with the Manufacturing PMI highlights that China is not out of the woods just yet.

Secondly, North-Korea announced that it had tested a hydrogen bomb, with the news coming after tremors at a magnitude of 5.1 were detected near the Punggye-ri nuclear test site. It will probably take weeks before this can be confirmed by independent sources but nevertheless, more geopolitical tension is not helpful to an already beaten DAX 30.

How do you know if a trade is good or not? You could use the risk-reward ratio as outlined in the The Traits of Successful Traders Guide.

Data on Tap

Today’s interesting data reports will be U.S. ISM Non-Manufacturing and U.S. ADP. Whilst more data is on tap, the novelty today are these two indicators. See our economic calendar.

The ISM Non-Manufacturing is expected to reach 56 from 55.9, and the reaching of its 56 target or beating it would be welcomed for the DAX given that the ISM-Manufacturing, published earlier this week, indicates industrial production is contracting. The ADP report is expected to reach 198K and gives us an idea of what to expect at this Friday’s NFP report. The ADP report itself is volatile, hence a strong deviation from the 198K may well be expected and a subsequent reaction triggered.

The expected outcomes in this report have been sourced from Bloomberg News.

DAX 30 (GER30)

Please add a description for the image.

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.