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.

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
Oil - US Crude
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
DAX 30 At Risk Of Breaching Its January Low

DAX 30 At Risk Of Breaching Its January Low

Alejandro Zambrano, Market Analyst

The German DAX 30 remains fragile and a soft NFP outcome (less than 190k) may trigger a slide below the January 2016 low of 9253, which, not dissimilar to a medieval trap door, could quickly open for a decline to the August 8 low of 8887.

For the imminent downward trend to end, a break to yesterday’s high of 9628 is needed. If this happens then the DAX 30 may try to reach the January 27 high of 9927 over the next few weeks.

However, bullish traders are probably better off trading the S&P 500 if they are expecting a good NFP report as its stance is already bullish and may therefore capitalise better on a good NFP reading. The S&P 500 (FXCM: SPX500) has a short-term trend which is bullish above yesterdays’ low of 1871, and may reach 1939 and then 2000.

A Bloomberg News poll projects an NFP outcome of 190k from 295k, and for the unemployment rate to remain unchanged at 5%.

Losing Money Trading? This Might Be Why

DAX 30 | FXCM: 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 DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

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

DISCLOSURES