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
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
More View more
Real Time News
  • Delta Variant accounts for 92% of new Covid cases in the US
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:
  • Hang Seng Index Futures at Key Inflection Point, Top to Resume? - #HSI1! chart
  • Amazon Q2 Earnings: -EPS at $15.12, versus $12.28 estimate (23% higher) -Revenue at $113 billion, versus $115 billion estimate (1.7% lower) -Share price tumbled 7% during after-hours trade as the company reported a slight revenue miss and gave weak third-quarter guidance
  • 🇯🇵 Industrial Production YoY Prel (JUN) Actual: 22.6% Previous: 21.1%
  • 🇯🇵 Retail Sales YoY (JUN) Actual: 0.1% Expected: 0.2% Previous: 8.3%
  • The S&P 500 and Dow Jones could remain biased higher now that retail investors are back to aggressively shorting them. But, will recent shifts in sentiment materially change the broader outlook? Find out from @ddubrovskyFX here:
  • Heads Up:🇯🇵 Retail Sales YoY (JUN) due at 23:50 GMT (15min) Expected: 0.2% Previous: 8.2%
  • Heads Up:🇯🇵 Industrial Production YoY Prel (JUN) due at 23:50 GMT (15min) Previous: 21.1%
DAX 30:  Price may find short-term respite

DAX 30: Price may find short-term respite

Alejandro Zambrano, Market Analyst

Talking Points

  • Overall trend is bearish as seen by the downward tilting trend line from the March 2015 high.
  • However, in the short-term the trend is bullish since mid-February and the ECB low of 9400 is the trend defining level. Price may drift higher as long as this low is being respected.

In the days following the latest ECB rate meeting, the DAX 30 breached its January 27 high of 9922, an act which has invariably propelled price higher, but what is the health of the overall trend?

The overall trend is bearish since March 10, 2015 as clearly seen in the chart below. This is supported by the ever lower highs, and the downward tilting trend line from the March high.

The ECB rate meeting was able to add momentum to the bullish trend which has been in place since mid-February 2016 and price has subsequently breached its January 27 high of 9922. The same trend will remain bullish above the ECB low of 9400 and the next target within range for bullish traders may be the January 13 high of 10,166. The next target beyond the January 13 high may be the December 29 high of 10,878.

Trading much higher than the December 29 high of 10,878 may be hard at this stage given the downward sloping trend line from the March high found near this level, which may limit price. In the vicinity of the trend line, the risk/reward ratio may also be favorable toward a bearish view, hence it would not surprise me if traders will be on the lookout for a short-term trend reversal near this line.

For now though, the ECB low of 9400 is the trend defining level and the short-term trend is bullish above it.

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

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.