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
Bullish
Wall Street
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • GBP/USD continues to fail around the 1.3400 level and is unlikely to make a confirmed break higher ahead of any trade talk confirmation. Get your $GBPUSD technical analysis from @nickcawley1 here:https://t.co/EWLFXK1q3q https://t.co/4XSSNxobMo
  • The Gold price sell-off has broken below key technical barriers and leaves the outlook for XAU/USD weighted to the downside heading into the close of the month. Get your $XAUUSD technical analysis from @MBForex here:https://t.co/3YLcAFlr5f https://t.co/1uFb9UkDvV
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.48% Gold: -1.28% Silver: -2.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OvThGydQBs
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.65%, while traders in France 40 are at opposite extremes with 78.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Yq6wLxhblV
  • Vaccine Optimism Sparks 28% Increase in Oil Prices. Get your #crudeoil market update from @JMcQueenFX here:https://t.co/F3AlSkniXk https://t.co/qevY4Gh6o9
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.51% US 500: 0.47% Wall Street: 0.26% Germany 30: -0.15% France 40: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wxM2SJQrDE
  • EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Nov 20, 2020 15:00 GMT when EUR/GBP traded near 0.89. A contrarian view of crowd sentiment points to EUR/GBP strength. https://www.dailyfx.com/sentiment https://t.co/ouaMBSjKk2
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.75%, while traders in France 40 are at opposite extremes with 77.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mXHYu1zN9M
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.59% Gold: -1.39% Silver: -3.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xchHegk5kh
  • $BTCUSD technical resistance in action. . . #Bitcoin https://t.co/sC21sU5jiX https://t.co/KQdwWtMUNr
DAX 30 Claws Back Some Losses As Energy Shares Rise

DAX 30 Claws Back Some Losses As Energy Shares Rise

2016-04-08 09:00:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • The German DAX 30 nevertheless remains bearish below this week’s high of 9906.
  • German Export orders beat expectations.
  • ECB’s Nowotny is set to speak.

The DAX 30 (FXCM: GER30) is up by 1.43% at the time of writing. The business press has cited higher crude oil and firmer metal prices as a possible support for European stocks. We also note that the Nikkei 225 (FXCM: JPN225) has managed to stabilize and is now trading at the same level as was seen on Tuesday. The Nikkei 225 has been under severe pressure over the last few weeks, dropping by 11.4% from its March high and thereby putting some pressure on global stocks.

This morning the latest German Exports figures were published and they beat expectations by rising 1.3% MoM vs. the 0.5% expected (Bloomberg news survey). Imports gained by 0.4% vs. an expected decline of 0.3%.

The technical outlook for the DAX 30 remains somewhat bearish given that price has been declining over the last few days. The current weekly high of 9906 is lower than the March high of 10,118, which also further reinforces that trend position.

However, 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.

There are no DAX relevant macro-economic reports on deck today.

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 DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

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

DISCLOSURES