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.

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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Bitcoin has taken a backseat to other volatile risk assets today, with the cryptocurrency down less than half a percent $BTC $USD https://t.co/YzaX09fLAS
  • Who needs a 2 and 20 when you have Reddit?? #GameStop https://t.co/ELWWjYPg3D
  • The #Bitcoin bull has taken a back seat, at least for now, but speculative fervor continues to run high as witnessed by the saga taking place in the stock of Gamestop. Get your market update from @JStanleyFX here: https://t.co/0Q8PxyUIkc https://t.co/A2JHReRTcf
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.57% 🇬🇧GBP: 0.45% 🇦🇺AUD: 0.45% 🇨🇭CHF: 0.17% 🇪🇺EUR: 0.17% 🇯🇵JPY: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OyXArspzGL
  • USD/CAD continues to retreat, now trading below 1.27 $USD $CAD https://t.co/cgmNxBHsjo
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.44% Oil - US Crude: 0.27% Gold: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/38weW9olX9
  • Waiting for Kodak to claim it is the most shorted stock in the world. If blockchain and vaccine pivots don't work, maybe this will be the ticket.
  • US to order 100 million more doses of Pfizer and Moderna vaccines to fight supply shortages - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F22xKzHTZh
  • Mircosoft Earnings 2Q Revenues: $43.08 B, EST. $40.20 B EPS: $2.03 act. vs $1.64 est. $MSFT 246.46 +7.19%
DAX 30: Decisive Price Action May Be Delayed until the ECB meeting

DAX 30: Decisive Price Action May Be Delayed until the ECB meeting

Alejandro Zambrano, Market Analyst

Talking Points

  • A decline to the 9336-9500 range may be what is needed before the DAX takes a leap higher, the alterative scenario being a break to the January 27 high of 9931, which may lift price to the January 13 high of 10,164.
  • In the afternoon, U.S. Wholesale inventories are expected to decline by -0.2% MoM and may move the DAX, but decisive price action is likely to be delayed until tomorrow’s ECB meeting.

The DAX 30 appears to be in a corrective mode and may decline to the range of 9336 to 9500 before traders see the risk/reward ratio as sufficient enough for fresh bullish positions.

However, on a break to the February 29 low of 9336, the same bullish traders will most likely head for the exit as the trend may have rolled over at this stage and price may reach the February 24 low of 9112.

The alternative entry for bullish traders is a break to the January 27 high of 9931, as such a break may generate enough momentum to lift price to the January 13 high of 10,164.

What may determine what’s next for the DAX 30? I would say it’s the outcome of tomorrow’s ECB meeting.

Economist polling is projecting a reduction of the Deposit Facility rate. But will this be enough? And will lower rates hurt banks and drag the DAX lower? At this stage it’s too early to know, but by Friday morning and once the dust has settled post the rate meeting, we should be more informed.

Download the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold

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