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 30 Looks Poised to Break Its 2015 Low

DAX 30 Looks Poised to Break Its 2015 Low

Alejandro Zambrano, Market Analyst

Talking Points

  • The DAX 30 may slide to new lows as traders flee stock markets

The DAX 30 (FXCM: GER30) is under severe pressure and has so far dropped by 442 points from yesterday’s high of 9759. The index is now just a few points from its 2015 low of 9303 and a break to this level may trigger a decline to the next major support level, which is the November 11, 2014 low of 9144. This seems fair at this stage given that the FXCM SSI Snapshot Indicator shows traders are still net-long (the SSI being a contrarian indicator).

For the short-term trend to turn neutral and bearish, traders need to abandon their bearish bets and the DAX needs to break yesterday’s high of 9759. Until this happens, I would expect the DAX to drift lower.

Traders who are not already short will probably wait for a correction to the 9489 to 9593 range before considering whether to participate in the downward trend. A better risk/reward ratio is assured in this range if price indeed reaches 9144 over the comings days.

U.S. Home sales and CPI are on tap today and I don’t anticipate that the DAX 30 will pay too much attention to this data given that the markets are concerned about the slowdown in China, softening U.S industrial sector and soft commodity markets. See our economic calendar.

DAX 30 | FXCM: GER30

Please add a description for the image.

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

Get Alejandro’s daily market update in your inbox, please fill out this form

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