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
Wall Street
More View more
Real Time News
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here:
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation 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:
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here:
  • Beautifully put.
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss 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:
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here:
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day.
DAX 30 Halts Its Decline, But Strong Gains Are Also Absent

DAX 30 Halts Its Decline, But Strong Gains Are Also Absent

2016-04-07 09:59:00
Alejandro Zambrano, Market Analyst

Talking Points

  • The decline of the DAX 30 has stalled, but strong gains are absent.
  • The DAX found some support ahead of the March 10 low of 9398.
  • Factors cited to support global stocks, in general, are the higher crude oil prices and yesterday’s dovish Fed rate meeting minutes.
  • The ECB Rate meeting minutes, and the latest U.S. Jobless Claims figures are to be published today. This evening, the Fed's Yellen is set to speak in New York, along with Greenspan, Bernanke, and Volcker.

The DAX 30 (FXCM: GER30) is little changed at the time of writing. The biggest drag to the index is from Carmakers, who are part of the Consumer Discretionary Sector which is currently lower by 1.27% in today’s session. The Health Care Sector, up by 0.74%, is the current winner.

The DAX 30 index itself has been trading with a slight bearish bias over the last few days as the current weekly high of 9906 is lower than the March high of 10,118. The lower highs and lower lows make the trend short-term bearish.

However, the selling has stalled near the March 10 low of 9398, which was also the ECB rate meeting low. The next support level beyond the March 10 low of 9398 is the February 24 low of 9122.

Factors cited to support global stocks, are in general both the higher crude oil prices and yesterday’s dovish Fed rate meeting minutes. In regards to the latter, the Fed has said that the domestic economy has developed in line with their earlier expectations. Employment and wage growth were cited as reasons for the Fed to move forward with the normalization of rates, while Net exports and weak global growth were said to pose a risk to the U.S. economic outlook. Some of the Fed members have said that they are ready to hike rates in April, while others have been less enthusiastic.

The effect of the dovish statement is that U.S. short-term rates, such as the 2-year-swap, remain stable around 0.837% from trading around 1.20% in December. The lower interest rates are said to support stock markets.

The ECB Rate meeting minutes are to be published today along with the latest U.S. Jobless Claims figures. This evening, the Fed's Yellen is set to speak in New York, along with Greenspan, Bernanke, and Volcker.

Our forecasts for Q2 2016 are now live on the site. Download them for free.

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

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